TikTok reports sensational user numbers

TikTok reports sensational user numbers

Shanghai, Oct. 3, 2020

TikTok announced that the number of monthly users has increased from 788 million in the first quarter to over 1 billion. The total number of installed ByteDance apps, including Duoyin, is 3.2 billion.

In 2020, ByteDance generated $34.3 billion in revenue. Gross profit rose to $19 billion – a 93% increase from the previous year.

In August, the app made $23 million in the U.S. and reached 12 million downloads worldwide for the month on iOS.

TikTok currently ranks first among iPhone apps in the U.S. and third among iPad apps in the entertainment category.

ByteDance was valued at $425 billion in June.