While the company is famous for owning TikTok, Toutiao was actually ByteDance’s first development.īyteDance partners with several nonprofit organizations, including the World Wildlife Fund, GiveIndia, the British Olympics and the American Society for the Prevention of Cruelty to Animals. While these developments are too recent to draw conclusions from, it is reasonable to expect other tech companies to follow suit.īyteDance also owns and operates Toutiao, a Chinese app that provides personalized news to its Chinese users. While this financial move may seem strange, Tencent Holdings, another Chinese company, has also displayed interest in diversifying its assets in the healthcare space. The deal further diversified ByteDance’s assets and demonstrated a clear statement on the company’s trust in healthcare technology. In 2022, ByteDance’s healthcare offshoot, Xiaohe Health, purchased a chain of luxury Chinese hospitals for $1.5 billion. Since its origins, the company has partnered with Oracle Cloud to store US-based user data.Īlthough ByteDance is most well-known for its investments in the social media space, the company has interests in many different industries, including news, gaming and education. Despite its humble beginnings, ByteDance is now worth an estimated $300 billion as of September 2022.īyteDance operates multiple apps across the globe, including Helo (an Indian social media platform) and Vigo Video.
In 2018, the company merged TikTok with Musical.ly to drastically expand its user base.īyteDance’s former CEO, Zhang Yiming, launched the startup in 2012 from his apartment in Beijing. In 2017, ByteDance launched TikTok to cater to a more global audience. In 2016, the company launched Douyin, the Chinese version of TikTok. ByteDance, TikTok’s parent company, was founded in 2012. TikTok is owned by ByteDance, a private company headquartered in Beijing. By 2017, Musical.ly was one of the most popular apps in the world and was purchased by ByteDance for about $1 billion.īyteDance merged TikTok with Musical.ly, which helped to boost TikTok’s global reach and gave it access to a larger pool of users and content creators.
In 2014, the app Musical.ly - which had similar features to the future TikTok app - was launched in China.
The social media app has been through many changes in the last few years.
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Related: How To Use TikTok To Promote Your Business How has TikTok ownership changed over the years? For many users, TikTok is a fun and entertaining way to spend time online. Thanks to its broad reach and easy-to-use interface, TikTok offers a unique opportunity for creators to connect with a global audience. It remains a popular platform for content creators and audiences alike and continues to grow in popularity and audience reach. TikTok is owned by the Chinese company ByteDance and is available in more than 150 countries. It has been downloaded more than 2.6 billion times worldwide (210 million in the United States).
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Currently free on the Apple App Store, the nearly 5-year-old app is particularly popular among younger demographics. TikTok is a social media app that allows users to create and share short videos.
#Who currently owns tiktok update
But with all the talk about TikTok, one question remains: who owns TikTok? This article will answer that question and update you on what’s been happening with TikTok recently. Almost everyone has heard of TikTok - the social media app that has taken the world by storm since 2016.
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