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ByteDance aims to match Meta sales in 2025 as TikTok gains steam
Economic Times
·
2m ago
Medial
ByteDance aims to achieve a 20% revenue growth in 2025, which could potentially align its financials with Meta Platforms. The company anticipates sales to rise from $155 billion in 2024 to about $186 billion in 2025, riding on TikTok's global expansion despite geopolitical challenges. ByteDance boasts over 4 billion monthly active users across its apps, close to Meta's figures. Its growth, impacted by economic conditions, reflects significant international business proliferation.
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ByteDance plans $20 billion capex in 2025, mostly on AI, sources say
Economic Times
·
6m ago
Medial
ByteDance, owner of TikTok, plans over $20 billion in capital expenditure for 2025, primarily on artificial intelligence infrastructure like data centers and networking. Around half of this will be spent internationally. Key beneficiaries include Huawei, Cambricon Technologies, and Nvidia. ByteDance aims to bolster its AI offerings globally while facing challenges like the future of TikTok in the U.S. This move positions ByteDance against rivals such as Baidu and Tencent, enhancing its AI applications portfolio.
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Instagram debuts new video-editing app Edits, as TikTok deals with a ban
Economic Times
·
6m ago
Medial
Instagram has launched a new video-editing app, Edits, amidst uncertainty surrounding TikTok due to a potential U.S. ban. The app is similar to CapCut, owned by TikTok's parent company ByteDance, allowing creators to edit videos across platforms. As TikTok navigates legal challenges, Instagram aims to attract users and advertisers by enhancing its creative tools. Meta, Instagram’s parent company, is positioning itself to capture migrating TikTok users if the ban proceeds.
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Instagram may launch Reels as separate app: Report
Economic Times
·
5m ago
Medial
Instagram is reportedly considering launching a separate app for Reels, its short-form video feature, as shared by chief Adam Mosseri. This move aims to capitalize on TikTok’s uncertain situation in the U.S. Additionally, Meta recently announced a video-editing app called Edits, targeting the user base of CapCut by ByteDance. Previously, Meta attempted a standalone app, Lasso, to compete with TikTok, but it was eventually shut down due to limited success.
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Meta strikes deal with Tencent to sell VR headset in China: WSJ report
Economic Times
·
1y ago
Medial
Meta Platforms has reportedly entered a preliminary deal with Tencent Holdings to sell a low-cost virtual reality (VR) headset in China, aiming to re-enter the market where Facebook and Instagram are blocked. Tencent will be the exclusive seller of Meta's headsets in China, starting late 2024. The deal allows Meta to compete with TikTok-owner Bytedance. Meta's Quest, the bestseller in the VR space, will be adapted for China with cheaper lenses, with Meta taking a larger share of device sales and Tencent focusing on content and service revenue.
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ByteDance profits jump 60%, beating tech rivals: report
Economic Times
·
1y ago
Medial
TikTok owner ByteDance has seen its profits rise by about 60% in 2023, surpassing online rivals Tencent and Alibaba. With a valuation of around $225 billion, ByteDance has become one of the world's most valuable tech companies. The company's earnings before interest, tax, depreciation, and amortization reportedly reached over $40 billion, while sales grew to nearly $120 billion. This marks the first time that ByteDance has surpassed Tencent in both revenue and profit. However, the figures have not been independently audited. ByteDance launched TikTok in 2017, which has now reached over a billion users worldwide.
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Instagram ad revenue: Instagram to make up more than half of Meta's US ad revenue in 2025, report shows - The Economic Times
Business Insider
·
7m ago
Medial
According to research by Emarketer, Instagram is set to generate more than half of Meta Platforms' advertising revenue in the U.S. next year. The platform's monetization efforts, including the introduction of Reels, have contributed to its success in capturing marketers' attention. With TikTok potentially facing a ban in the U.S., Reels and YouTube Shorts could emerge as attractive alternatives, further boosting Instagram's growth. Emarketer suggests that in the event of a TikTok ban, Instagram could capture over one-fifth of the reallocated ad dollars. As Reels gains traction, its revenue share is expected to rise alongside Instagram Explore and potentially Threads by 2025.
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TikTok hires ex-Trump administration lawyer ahead of Supreme Court appeal
Economic Times
·
8m ago
Medial
TikTok and its Chinese parent company, ByteDance, have enlisted the help of former US solicitor general Noel Francisco in their battle against a potential ban on the popular video-sharing platform in the United States. Francisco, who served under President Donald Trump, will represent TikTok alongside his partner at the law firm Jones Day. The ban is due to be enforced unless ByteDance divests itself of TikTok by January 19, 2025, over concerns about national security and data privacy. TikTok has denied any ties to the Chinese government.
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TikTok goes dark for US users; Trump signals intervention
Economic Times
·
6m ago
Medial
TikTok, owned by China's ByteDance, went offline for its 170 million American users due to a U.S. law banning it on national security grounds. President-elect Trump indicated potential leniency, suggesting a possible 90-day reprieve. This unusual ban could impact U.S.-China relations, domestic politics, and social media dynamics. Rivals like Meta and Snap might benefit, while TikTok users seek alternatives. ByteDance faces pressure to cut U.S. ties, amid potential takeover interest and diplomatic tensions.
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Apple lists all apps it removed alongside TikTok in the U.S. | TechCrunch
TechCrunch
·
6m ago
Medial
Apple has blocked several apps, including TikTok and other ByteDance applications like CapCut and Lemon8, in the U.S. due to compliance with the Protecting Americans from Foreign Adversary Controlled Applications Act. This move comes after the Supreme Court upheld a law mandating these bans unless ByteDance divests TikTok. Affected users cannot access updates or in-app purchases. Meanwhile, TechCrunch announces the return of its All Stage event in Boston on July 17, 2025.
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TikTok's owner is working on a rival chatbot builder to OpenAI, a new report says
Business Insider
·
1y ago
Medial
ByteDance, the owner of TikTok, is reportedly developing a chatbot-building service to compete with OpenAI's customizable versions of ChatGPT. The platform, which will allow users to create their own chatbots, is expected to be launched as a public beta by the end of the month. ByteDance aims to explore new generative AI products and their integration with existing ones. This move comes amidst growing calls for TikTok to be banned in the US over national security concerns.
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