{"id":567993,"date":"2021-06-18T14:21:30","date_gmt":"2021-06-18T18:21:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=567993"},"modified":"2021-06-18T14:21:35","modified_gmt":"2021-06-18T18:21:35","slug":"despite-privacy-and-censorship-concerns-chinese-backed-tiktok-owner-doubles-revenue-to-34-billion-with-1-9-billion-users","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/despite-privacy-and-censorship-concerns-chinese-backed-tiktok-owner-doubles-revenue-to-34-billion-with-1-9-billion-users\/","title":{"rendered":"Despite Privacy and Censorship Concerns, Chinese-Backed TikTok Owner Doubles Revenue To $34 Billion, With 1.9 Billion Users"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdespite-privacy-and-censorship-concerns-chinese-backed-tiktok-owner-doubles-revenue-to-34-billion-with-1-9-billion-users%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=567993&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1196062793-1200x800-1.jpg\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>ByteDance, the China-based owner of TikTok, reportedly witnessed its revenues for 2020 more than double compared to the previous year.<\/span><\/p>\n<p><span>\u201cRevenue for last year totaled $34.3 billion, up 111% year-on-year, senior management at the company told employees in a company-wide meeting,\u201d reported <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/06\/17\/chinas-bytedance-tiktok-owner-saw-revenue-surge-111percent-in-2020.html\"><span>CNBC<\/span><\/a><span>. \u201cGross profit rose 93% to $19 billion, the person who attended the meeting said.\u201d<\/span><\/p>\n<p><span>According to a memo first discussed by <\/span><a href=\"https:\/\/www.wsj.com\/articles\/tiktok-owner-bytedances-annual-revenue-jumps-to-34-3-billion-11623903622\"><span>The Wall Street Journal<\/span><\/a><span>, \u201cByteDance had about 1.9 billion monthly active users across all its platforms as of December 2020. In addition to TikTok, these platforms include Douyin, the domestic Chinese equivalent of TikTok, and a news aggregation app called Jinri Toutiao.<\/span><\/p>\n<p><span>\u201cThe Beijing-based firm told staffers that it incurred a $2.1 billion operating loss from January to December last year,\u201d The Wall Street Journal added. \u201cThe loss was partly due to higher expenses incurred from share-based compensation to workers, according to a person familiar with the matter. For 2019, ByteDance had reported an operating profit of $684 million.\u201d<\/span><\/p>\n<p><span>ByteDance was founded in 2012 by Zhang Yiming, a Chinese entrepreneur. In 2018, TikTok burst onto the domestic social media stage after the company <\/span><a href=\"https:\/\/www.wsj.com\/articles\/tiktoks-videos-are-goofy-its-strategy-to-dominate-social-media-is-serious-11561780861\"><span>spent<\/span><\/a><span> nearly $1 billion on advertising for the year, \u201chelping turn it into the first-ever Chinese consumer-tech company to break out big in the U.S.\u201d<\/span><\/p>\n<p><span>The Chinese-backed platform has been widely criticized in recent years both for its censorship of content and its unclear data privacy methods.<\/span><\/p>\n<p><span>In early June, <\/span><span>TikTok attempted to explain away its latest apparent attempt to censor content regarding the LGBTQ+ community, <a href=\"https:\/\/www.dailywire.com\/news\/tiktok-sparks-outrage-for-censoring-intersex-hashtag-blames-mistake\">describing<\/a> its repeated removal of the \u201c#intersex\u201d hashtag as a \u201cmistake.\u201d<\/span><\/p>\n<p><span>\u201cPidgeon Pagonis, an intersex activist, noticed last week that the #intersex hashtag wasn\u2019t working on TikTok. They couldn\u2019t click the tag on one of their own posts and trying to search for intersex pulled up a \u2018null\u2019 page,\u201d reported <\/span><a href=\"https:\/\/www.theverge.com\/2021\/6\/4\/22519433\/tiktok-intersex-ban-mistake-moderation-transparency\"><span>The Verge<\/span><\/a><span>. \u201cThis was the second time Pagonis noticed the tag disappearing, and they worried that TikTok had banned it just as they were about to start a series of celebratory videos called Intersex Joy.\u201d<\/span><\/p>\n<p><span>Just days earlier, <\/span><span>the Chinese social media platform TikTok <\/span><a href=\"https:\/\/www.dailywire.com\/news\/report-chinas-tiktok-unable-to-explain-why-they-may-store-your-faceprints-and-voiceprints-and-other-biometric-data\"><span>released<\/span><\/a><span> their new privacy policy informing users that the app may collect new forms of biometric data, such as \u201cfaceprints and voiceprints,\u201d but the company has reportedly been \u201cunable to explain what types of data these terms referred to, or why the app might need to access this information in the first place.\u201d<\/span><\/p>\n<p><span>\u201cA change to <\/span><a href=\"https:\/\/www.tiktok.com\/legal\/privacy-policy?lang=en#privacy-us\"><span>TikTok\u2019s U.S. privacy policy<\/span><\/a><span> on Wednesday introduced a new section that says the social video app \u2018may collect biometric identifiers and biometric information\u2019 from its users\u2019 content,\u201d reported <\/span><a href=\"https:\/\/techcrunch.com\/2021\/06\/03\/tiktok-just-gave-itself-permission-to-collect-biometric-data-on-u-s-users-including-faceprints-and-voiceprints\/?guccounter=1&#038;guce_referrer=aHR0cHM6Ly93d3cudGhldmVyZ2UuY29tLw&#038;guce_referrer_sig=AQAAANAjB_afsssFR4APN9O4Vawrfs22EWTL2kdWa1YmoVTO_Ksab2ulVKARysujLdD_8L4sk8Svz-ioJT6YywnotB9WEKO6xhBYsM-OQ7hCU_Uv7QXQkzEH85IiUFkdJJH0-01OUwyYMYFoY9bAMRb9VneRf_mOVzKpf1BCLbWq6BUk\"><span>TechCrunch<\/span><\/a><span>. \u201cThis includes things like \u2018faceprints and voiceprints,\u2019 the policy explained.\u201d<\/span><\/p>\n<p><span>TechCrunch then explained that after being reached for comment on the forms of data that may be collected, \u201cTikTok could not confirm what product developments necessitated the addition of biometric data to its list of disclosures about the information it automatically collects from users but said it would ask for consent in the case such data collection practices began.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ByteDance, the China-based owner of TikTok, reportedly witnessed its revenues for 2020 more than double compared to the previous year.\u201cRevenue for last year totaled $34.3 billion, up 111% year-on-year, senior &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2280702,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1196062793-1200x800-1.jpg","fifu_image_alt":"Despite Privacy and Censorship Concerns, Chinese-Backed TikTok Owner Doubles Revenue To $34 Billion, With 1.9 Billion Users","footnotes":""},"categories":[],"tags":[],"class_list":["post-567993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1196062793-1200x800-1.jpg","fifu_image_alt":"Despite Privacy and Censorship Concerns, Chinese-Backed TikTok Owner Doubles Revenue To $34 Billion, With 1.9 Billion Users","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/567993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=567993"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/567993\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2280702"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=567993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=567993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=567993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}