Jan-Erik Asplund
TL;DR: TikTok U.S. generates $27B a year in revenue, about 19% of ByteDance’s total 2024 revenue, per Sacra estimates. More importantly, TikTok U.S. is growing 70% YoY and accelerating, while ByteDance’s domestic business is decelerating in a Chinese market saturated with short-form video. For more, check out our full report and dataset on ByteDance.
As we approach the Sunday deadline for ByteDance to sell its TikTok U.S. business or have it removed from Apple and Google’s app stores, ByteDance’s valuation on secondary markets is $215B—down from the $300B valuation set in an internal tender offer in November.
Key points via Sacra AI:
- In 2024, TikTok generated $27B in revenue from the United States, only 19% of the total revenue of its parent company ByteDance’s $146B in 2024 revenue. At a similar revenue scale, ByteDance is growing faster than American social media giant Meta (NASDAQ: META), which is projected to generate $163B in revenue in 2024, growing 21% YoY, and dwarfing Snap (NYSE: SNAP) at $5.2B in revenue, growing 14% YoY.
- While ByteDance’s domestic China business has decelerated to 22% YoY growth (down from 33% YoY in 2023), its international growth—dominated by TikTok U.S.—is exploding, accelerating to 70% YoY (up from 25% YoY in 2023). In China, short-form video is completely saturated—97% of China’s 1B people already use Douyin (Bytedance’s Chinese TikTok) and competitors Kuaishou/Tencent Video—while at 150M monthly active users in the US, TikTok still has upside in expanding into the remaining 55% of the population.
- With a valuation of $215B on the secondary markets (down from $300B in their November 2024 tender), ByteDance is currently valued at a 1.47x multiple on their estimated 2024 revenue, a major discount to its comp Meta, valued at $1.55T, or 9.5x their 2024 revenue. Without its U.S. TikTok business, Bytedance would be a $119B/year business, growing 22% YoY—worth $428B at Snap’s 3.6x multiple and $1.13T if valued at Meta's 8.7x multiple.
For more, check out this other research from our platform:
- ByteDance (dataset)
- Stan (dataset)
- Passes (dataset)
- Reddit (dataset)
- Reddit: the $510M/year social libertarian superapp
- Vitalii Dodonov, CTO of Stan, on building a creator-aligned store-in-bio
- Kavin Stewart, Partner at Tribe Capital, on Reddit's 10x opportunity
- Truth Social: the GameStop for the alt-right
- Stan: the $14.7M/year store-in-bio
- Neal Jean, CEO of Beacons, on building vertical SaaS for creators
Read more from
Read more from
Read more from
Brave revenue, growth, and valuation
Unlocked Report
Continue Reading