TikTok owner's quarterly profit increased by 130%
TikTok owner ByteDance, China, saw its revenue rise to 40 billion yuan ($5.64 billion) from January to March 2020. This is 130% more than in the first quarter of 2019, writes Reuters. The main part of ByteDance's revenue came from advertising in China, namely in the news aggregator Jinri Toutiao and the Chinese analogue of TikTok - Douyin, and not in TikTok itself, the agency's interlocutors noted.