Bytedance, the parent company of the popular social media app TikTok, has had more success outside of China than any other Chinese internet company, including Baidu and Tencent, said Bloomberg.
Bytedance reports that the TikTok app and its Chinese version, Douyin, have been installed more than 1 billion times worldwide and last year, Bytedance’s investors also valued the company at $75 billion, the most of any startup in the world.
Bytedance was started in 2012, releasing Douyin in 2016 and the international version of the app a year later. Unlike other social media apps like Facebook and Instagram, TiTok does not rely on social media connections. It taps into data starting with your location and then analyzes the content of the videos you watch the longest.