It mentioned late on Thursday (Apr 25) in an announcement posted on Toutiao, a media platform it owns, that it had no plan to promote TikTok, in response to an article by The Data saying ByteDance is exploring situations for promoting TikTok’s US enterprise with out the algorithm that recommends movies to TikTok customers.
In response to Reuters request for remark, a TikTok spokeswoman referred to ByteDance’s assertion posted on Toutiao.
TikTok’s CEO Shou Zi Chew mentioned on Wednesday the social media firm expects to win a authorized problem to dam laws signed into regulation by President Joe Biden that he said would ban its popular short video app utilized by 170 million Individuals.
The invoice, handed overwhelmingly however the US Senate on Tuesday, is pushed by widespread worries amongst US lawmakers that China may entry Individuals’ knowledge or use the app for surveillance.
Biden’s signing units a Jan 19 deadline for a sale – sooner or later earlier than his time period is poised to run out – however he may prolong the deadline by three months if he determines privately-owned ByteDance is making progress.
ByteDance doesn’t publicly disclose its monetary efficiency or the monetary particulars of any of its models. The corporate continues to make most of its cash in China, primarily from its different apps resembling Douyin, the Chinese language equal of TikTok, separate sources have mentioned.
The US accounted for about 25 per cent of TikTok general revenues final 12 months, mentioned a separate supply with direct data.
ByteDance’s 2023 revenues rose to almost US$120 billion in 2023 from US$80 billion in 2022, mentioned two of the 4 sources. TikTok’s day by day energetic customers within the US can be nearly 5 per cent of ByteDance’s DAUs worldwide, mentioned one of many sources.