TikTok owner ByteDance's revenue growth slowed to 70% last year

TikTok owner ByteDance's revenue growth slowed to 70% last year

FILE PHOTO: TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken Nov. 27, 2019. REUTERS/Dado Ruvic

ByteDance, the owner of short video app TikTok, saw its total revenue grow by 70% year-on-year to around $58 billion in 2021, according to two people familiar with the matter, slower growth than a year earlier as China tightens its grip on big tech companies.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter