TikTok’s parent ByteDance is said to have recorded a 63 per cent surge in overseas sales in 2024, driven primarily by the short-video app’s growth, in a sign that the Chinese social media giant remains resilient despite political headwinds in the US.
ByteDance’s overseas revenue reached US$39 billion last year, with TikTok accounting for most of the sales, according to a report on Thursday by US tech media outlet The Information. ByteDance, China’s largest unicorn, does not publicly disclose its financial performance. The company did not respond to a request for comment on Friday.
International markets made up a quarter of ByteDance’s total sales, which rose 29 per cent to US$155 billion, according to the report.
The performance places the firm among the world’s top internet companies, alongside US social media powerhouse Meta Platforms, which generated US$164.5 billion last year, and is nearly double the revenue of its Chinese competitor Tencent Holdings, which posted US$91.9 billion in sales.
ByteDance has been expanding its TikTok Shop e-commerce business to more overseas markets, including Spain and Ireland last year, to compete with brands like Shein and Temu.
