Rakuten on December 20
According to foreign media disclosures, ByteDance's revenue in 2023 will exceed $110 billion, an increase of 30% from the revenue of more than $80 billion in 2022. ByteDance's revenue in 2023 is likely to have surpassed that of its rival Tencent.
ByteDance's TikTok and Douyin are making inroads overseas and in China, with Douyin transforming into an all-in-one platform with built-in food orders, flights and hotel bookings, encroaching on the main territories of Alibaba and food delivery giant Meituan.
Abroad, TikTok is following this strategy, combining ** and shopping in markets such as the United States and Indonesia, and taking control of Goto's e-commerce division Tokopedia.
In December 2023, TikTok announced that it had reached an e-commerce strategic cooperation with Indonesia's Goto Group. TikTok's Indonesian e-commerce business will be merged with Tokopedia, an e-commerce platform under the Goto Group, and the combined Tokopedia will be controlled by TikTok. TikTok acquires a 75-controlling stake in the joint venture.
TikTok's pledge to invest $1.5 billion in the coming years to fund future business development is one of ByteDance's biggest acquisitions in recent years, allowing TikTok to restart its retail services after months of review in Indonesia.
In the U.S., TikTok is still struggling to manage local user data by building an independent team.
Of course, ByteDance will shrink significantly in sectors such as games in 2023.
In the latest round of investor buybacks, ByteDance bought up to $5 billion from shareholders at a valuation of $268 billion, about 11% lower than similar plans in 2022.
Lei Di was founded by ** Lei Jianping, if ** please in**.