ByteDance, The Chinese Organization In The Back Of The Ruin-Hit Video App TikTok, Noticed Its Income Double Closing Year.

An internal memo launched to a group of workers showed that the firm's total revenue jumped by 111% to $34.3bn (£24.7bn) for 2020. The figures underscore TikTok's endured global recognition. It comes as ByteDance and several other Chinese-era giants have come beneath growing pressure from governments around the arena.

The immense reputation of TikTok has meant that ByteDance has been scrutinized through governments around the arena, which include within the US and China.

On Thursday, Reuters pronounced that a govt order signed by President Joe Biden earlier this month might pressure some Chinese apps to take more tough measures to shield consumer facts if they wanted to live within the US marketplace.

After President Biden revoked a government order from his predecessor Donald Trump, it got here that banned Chinese apps TikTok and WeChat inside the US.

The ban faced a series of prison challenges and by no means come under pressure. Instead, the United States Department of Commerce said it would assess apps designed and advanced using those in "the jurisdiction of a foreign adversary," including China.

President Biden stated that it needs to use a "proof-based totally technique" to peer if they pose a hazard to US country comprehensive security. During the preceding administration, President Trump regularly attacked ByteDance, accusing TikTok of being a hazard to US countrywide security. In addition, politicians and officers raised concerns about users' non-public statistics being surpassed by the Chinese authorities.

Beijing scrutiny

In April, Chinese regulators called on thirteen online systems, together with ByteDance, to stick to tighter guidelines of their economic divisions. It got here as a part of a much broader push to rein inside the usa's era giants. The authorities said the intention became to prevent monopolistic behavior and the "disorderly enlargement of capital."