![]() ![]() TikTok allows users to create, edit, and share short-form video clips that are enhanced with filters and accompanied by the latest music trends. TikTok users: young, eager, and connected dollars in revenues, up by 30 percent compared to the 61.7 billion U.S. While mainstream social media platforms have been struggling with protecting their growth in 2022, ByteDance saw approximately 80 billion U.S. The company monetizes its brands by offering ad spaces, with TikTok’s short video offering being particularly suited to host bite-sized commercial messaging. In 2023, ByteDance was the leading unicorn worldwide, with a valuation of 200 billion U.S. The platform is owned by Beijing-based tech company ByteDance, which is behind the release of several popular apps – Douyin, Toutiao, Lemon8. TikTok is a video-sharing social media app launched on the international market in 2017.
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