TikTok Registered Over 500% Growth In Revenue In The Fourth Quarter

Third-party data recently revealed that TikTok has achieved a 310% year-on-year increase in its in-app purchase. The data was released by Apptopia, a startup tracking mobile app usage and revenue.

TikTok has gained impressive revenues, which shows in not only percentage terms. As can be seen from the following chart, the app now has reached a revenue mark of Rs 359.8 crore ($50 million). The company not only has high year-on-year growth, but it has also gained about Rs 143.9 crore ($20 million) regarding in-app top-line figure in the third quarter.

With such an impressive quarterly revenue, the musical-video app could make thousands of crores of rupees, which is enough for the company to go public itself. The amount may even be enough for TikTok to provide its parent company ByteDance with financial assistance.

In a later update, SensorTower reported that TikTok gained about $87 million revenue from in-app purchases in the fourth quarter of 2019 across all markets, in both Google Play and the App Store, excluding China. According to Randy Nelson from SensorTower, the app has achieved a year-over-year growth of nearly 512 percent. If the data is correct, the famous Chinese short-video app has the reason to celebrate.

Currently, ByteDance is worth around $70 billion, and its TikTok app is undoubtedly a breakout success across the globe.

TikTok has achieved such a great success in the US that many parts of the US government have banned the app due to suspicion that the company may be related to the Chinese government.

Over the past few years, the tensions between the US and China have risen, partly attributed to the Trump administration’s trade suspension against Chinese firms, including tech companies. ByteDance and Huawei are not the only firms involved, but they are among the most known companies that are now constrained.

Investors consider ByteDance a really valuable company, which is valued at almost $80 million in 2018. The Chinese firm is also considered an IPO candidate for this year.