It’s official, popular short video platform Douyin (China’s TikTok) aims to reach 680 million daily active users by the end of this year.
TikTok’s parent company ByteDance wants to increase its advertising sales by 42% to 260 billion RMB this year. It is estimated that the advertising revenue of China’s application business will reach 40 billion US dollars in 2021.
Last month, people familiar with the matter said that ByteDance is discussing the possibility of Douyin listing in New York or Hong Kong. In addition, ByteDance has been considering listing Chinese businesses such as Toutiao on the Hong Kong Stock Exchange or the Science and Technology Innovation Board.
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