Curious about the net worth of Tik tok? Check out here to find out the net worth of TikTok, milestones, achievements and a lot more. Read on to find more about it.
TikTok is known as Douyin in China. This is a video-based social networking platform founded, owned and managed by ByteDance, a Chinese firm. TikTok hosts short videos created by users across different genres including comedy, education, and dance. The duration of TikTok videos last from 15 seconds to 3 minutes.
How much is the net worth of Tik Tok?
TikTok is a private company and it’s worth is $75 billion. Zhang Yiming, 38 years old is the founder of the Tik Tok.
Douyin was first launched in China in September 2016 and TikTok is the international version of this video app that was launched for iOS and Android in the global market outside China. TikTok attained world-wide popularity only after merging with music.ly, one another social media service based in China. In October 2000, TikTok crossed over 2 billion downloads globally.
How Much Is The Net Worth of Tik Tok: Quick Summary
|Net worth||$75 billion|
|Market Cap||$50 billion|
As per Morning Consult ranking, TikTok is the third fastest growing brand in the world after Zoom and Peacock. In 2018, TikTok was already available in more than 75 languages and over 150 markets.
The primarily entertainment platform expanded into influencer marketing and generated a huge income in several ways. It makes a highly interesting study to know the TikTok net worth, how it generated such a huge wealth and what its future looks like.
Net Worth Of Tik Tok
The net worth of TikTok in 2021 is $75 billion. This is a phenomenal achievement considering the fact that TikTok began its journey just a few years back. TikTok earns from the millions of downloads it sees every day.
The app is also viewed by billions of people worldwide. TikTok is among the most downloaded apps on the AppStore and the future looks very bright for the video based social media platform as the app has millions of followers worldwide.
TikTok’s revenue is expected to face a steady growth in future and the net value of TikTok will shoot up in the following years.
Estimates published recently place the value of ByteDance, the parent company of TikTok at $180 billion. In a recent move, this firm attempted to raise $2 billion. This is double the range of the company’s latest round of fundraising.
TikTok’s value of $50 billion is the result of the investors bidding so high on the firm in order to break it from its parent concern ByteDance.
TikTok Stats for 2021
|Market Cap||Revenue expected||Average base salary range of TikTok employees in the US||Total number of employees|
|TikTok Stats for 2021||$ 50 billion||$6 billion||$59,000 to $480,000||More than 10,001|
TikTok performance statistics for five years
|Year||Total Downloads||Annual Users||Revenue|
|2017||130 million||65 million||$ 63 million|
|2018||750 million||133 million||$ 150 million|
|2019||1.5 billion||381 million||$ 350 million|
|2020||2.6 billion||700 million||$ 1.9 billion|
|2021||3 billion||1 billion|
Where does TikTok stand among the popular social media platforms
Tiktok’s Important Growth Milestones
Originally TikTok was known as Douyin in China’s home market. This firm was launched in Mainland China in September 2016. When the firm got encouraging traction in China, its parent company ByteDance looked forward to launching it for the international users bringing in a global version of the app and that is how TikTok was born.
The original version of TikTok was a rudimentary app when compared to what it offers today. It was initially a video sharing platform for short form videos. It focused initially on lip-syncing videos and dancing videos. Today, it has grown into a full-fledged video service that has content for all types of users.
ByteDance is a well experienced firm in offering apps that went wildly popular. It is also managing Toutiao, the news aggregator platform that is powered by AI. One of the innovations that Zhang Yiming, the founder CEO of ByteDance did in TikTok ways to incorporate a similar kind of AI platform into the TikTok platform. This feature helped in identifying the user interests and feed the users with videos relevant to their search intent.
While trying to venture into markets outside China, a number of apps failed miserably. Some examples of such failures include Tencent’s WeChat. However, TikTok could successfully push itself into the international scene by acquiring Musical.ly in November 2017 in a deal worth $1 billion. This strategic move brought in 80 million new users for TikTok mainly from the U.S. TikTok successfully imported all of them onto its own platform.
From this point onwards, TikTok’s growth received a boost and it became one of the most popularly pursued apps in 2019 and 2020. In 2019 alone the app was downloaded more than 693 million times and the trend moved up showing 850 million downloads in 2020.
Launched only in 2017, TikTok could manage to steer its way towards success by becoming one of the most downloaded apps in 2020. In fact, TikTok could easily become one of the most fitting competitors to challenge Facebook’s grip on the western social media.
Significant Achievements During Expansion
The statistics for 2018 show that TikTok was already available in over 150 countries and in 75 languages. The data that Sensor Tower provided to CNBC shows during the first half of 2018 alones, TikTok was downloaded over 104 million times on Apple’s App Store.
Following TikTok’s merger with musical.ly, the number of downloads remarkably increased, making TikTok the most downloaded app in the US in October 2018, the achievement which music.ly had bagged earlier.
In February 2019, TikTok and Douyin together achieved over 1 billion downloads across the world excluding the installations on the Androids in China. The media outlets cited in 2019 that TikTok was the 7th largest downloaded app over the decade 2010 to 2019.
Between 2018 and 2019, TikTok was also the largest downloaded app on Apple’s App Store. This value surpassed those recorded on Facebook, YouTube and Instagram.
In a deal signed up between ByteDance and Oracle, the latter came forward to partner with the former to provide cloud hosting facilities. Walmart has shown its interest in investing in TikTok. TikTok also signed a licensing deal with Sony Music in November 2020.
In about a month after that Warner Music Group landed on a licensing deal with the video sharing platform. In a partnership with TikTok, Abu Dhabi’s department of Culture and Tourism is promoting the country’s tourism. This deal came through as a result of the January 2021 winter campaign run by TikTok in partnership with the UAE Government Media Office.
How Much Is Zhang Yiming’s Net Worth
Zhang Yiming, the Chinese internet entrepreneur known as the founder of ByteDance, the parent company that own TikTok. His net worth in 2021 stands at $36 billion growing from $4 billion valued in 2018.
His latest net worth puts him in line with the richest billionaires in the world today. Bloomberg Billionaire index rates his personal wealth at $44.5 billion. Zhang Yiming established ByteDance in the year 2012 and he developed TikTok as a video sharing social media platform. Toutiao, the news aggregator is also his creation.
In February 2006, Zhang joined Kuxun as the firm’s fifth employee. In a year, he was promoted as the technical director. In 2008, he left the firm to join Microsoft. However, the firm’s corporate regulations hampered him.
He then joined Fanfou, which failed very soon. Zhang Yiming now chairs the most famous content platforms namely ByteDance, based in Beijing. In 2013, he found a place among the under 30 China list on Forbes. Forbes China Rich List places him in the ninth position among the wealthiest people in China.
Despite TikTok remaining in hot soup over the recent times, Zhang Yiming has managed to become one of the richest man on the earth. His riches are compared to those of Zhong Shanshan, the bottled water giant of China and the Walton and Koch families of the US. ButeDance was recently valued at $250 billion in the private market and this resulted in the huge escalation of Yiming’s wealth.
Ma Rui, partner at Synaptic Ventures, a venture capital firm says, “Zhang is someone who’s known for thinking long-term and not easily dissuaded by short-term setbacks.” He further added that Zhang is all set on growing an enduring, international business.
Since South China Morning Post has forecasted the ByteDance’s net worth might soon touch $400 billion. When this comes through, it will automatically take up Zhang’s fortune also.
What The Future Looks Like For Tiktok
During recent times, TikTok is one of the many companies that benefited from the pandemic situation. During the Coronavirus pandemic restrictions, TikTok was downloaded more than 315 million times. In October 2020, the app had over 689 monthly users that further swelled in 2021. This number means TikTok has more number of monthly users than Snapchat and Twitter.
There had been some roadblocks to TikTok over its journey. The US Government had banned the app in the country over security issues. Oracle and Walmart negotiated a deal to take over the US operations of TikTok. The deal is not yet finalized. If the deal does not come through, TikTok will have to make some other arrangements to be able to operate in the US.
Before it can ably compete with the $2 trillion firms like Apple, TikTok has a long way to move forward. However, the fact remains that the user penetration and the revenue from in-app are seeing a boost over the recent years fetching consistent gains to the firm. This means the way is clear for the social media platform to head towards a bright future.
The Guardian wrote, “The swift rise of the Chinese video-sharing app could have ramifications for all of us and how we live, both online and offline”. The article also added that the app’s 732 million active users mean is it the app of the moment and is most likely to become the app of the future too. In fact, The Guardian goes to the extent of saying TikTok could even become the new Facebook as it is successfully shaping technology in its image.
The article writes, “It may seem easy to dismiss as a quirky, short-form video-sharing app, but TikTok is an augury of the tech future to come. Just as Facebook has shaped the internet, the ways we interact, and our approaches and attitudes to personal data for the past two decades, so TikTok has the potential to do the same for the next 20 years.”
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