TikTok's Chinese owner boosts annual profits to a record $25 billion, report says
Profits at ByteDance, the Chinese owner of video-sharing site TikTok, soared almost 80% last year to $25 billion, theRevenues jumped more than 30% to about $85 billion as advertisers increased their spending on TikTok and its Chinese equivalent
called Douyin. Only about $15 billion was generated outside China, although that was more than double the figure for 2021, per the newspaper. ByteDance was valued at $300 billion last year, making it the world's most valuable privately-owned company.
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