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TikTok’s challenge to Western social media - Venture Insights

Report Overview

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TikTok’s challenge to Western social media

PublisherEnders Analysis.
Publish Date March 15, 2019
Sector Media, Technology.
Company Alibaba, Facebook, Google, Snapchat, Tencent.

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Launched to the world in September 2017, TikTok is the first Chinese app to pose a serious threat to Western social media companies as it attracts hundreds of millions of Generation Z users around the globe

Privately-owned parent company Bytedance earned $7 billion in online advertising revenues in 2018 and is valued at $75 billion, placing it ahead of Uber as the world’s most valuable internet start-up, with an IPO likely this year

Bytedance’s goal of earning half its revenue outside China by 2022 is far from certain. In order to hit the target, TikTok will need to attain super scale with best-in-class revenue per user, an unlikely combination