ByteDance is the world’s most valuable unlisted company.
Image source: ByteDance official website
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Game-Time report/According to Bloomberg, ByteDance’s revenue is expected to reach US$110 billion in 2023, a year-on-year increase of 30%.
According to people familiar with the matter, Byte’s revenue is expected to exceed Tencent’s this year. According to the financial report, Tencent’s revenue in the first three quarters of this year was US$63.5 billion, and its full-year revenue is expected to reach US$86 billion.
The Information believes that as a global company, 80% of ByteDance’s revenue comes from China. This also means there is huge room for growth in overseas markets.
The same report from The Information pointed out that TikTok is currently negotiating with advertisers, requiring them to significantly increase their advertising budget on TikTok next year. The specific increase ratio will be at least between 50 and 150%, or a minimum guarantee will be guaranteed. It is said that “the attitude is firm “.
Some people think that “at least 50% growth” is not reasonable. For example, the growth rate required by Google is only 30%. Some advertisers also pointed out that TikTok made similar requests last year and successfully completed them, so they are confident that they will continue to increase their budgets as required in the coming year.
TikTok’s high growth indicators may be due to the fact that TikTok is still far behind overseas Internet giants. Public information shows that TikTok’s advertising revenue was US$11 billion last year and nearly US$20 billion this year, but it is still far behind Meta’s advertising revenue of over US$110 billion last year. The 50% growth requirement may be exaggerated if you look at it alone, but when compared with overseas giants, you will find that it is still within a reasonable range.
When catching up with overseas giants, if TikTok’s goal is achieved next year, ByteDance is also expected to complete its achievements of first catching up with Tencent and then surpassing Alibaba, becoming China’s Internet giant with the highest revenue.
Currently, ByteDance is the most valuable unlisted company in the world. Consulting agency CB Insights believes that ByteDance is currently valued at US$225 billion. In the latest round of investor buybacks, ByteDance bought back shares from investors at a valuation of US$268 billion.
