TikTok’s value reaches $100 billion!

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TikTok's value reaches $100 billion!

TikTok became famous because of the strange content which cannot be found on other social networks, at least not to that extent

Cats playing football, movie music and song re-creation, short dance spots and much more are all posted on TikTok, all with the aim of making people laugh or express their attitude in a different way, and often just because of the user’s desire to be part of a new trend.

It started out weird, and then the content became spontaneously such that it’s hard to leave the internet.

What impact do social networks and other apps available on mobile devices have on children and teens? According to TechCrunch, new research shows that children ages four to 15 spend about 85 minutes a day on the YouTube platform, but also spend almost the same time on TikTok, averaging 80 minutes each day. When you compare how much time children spent in May last year on TikTok, the result is that the percentage of time spent was higher by 116 percent compared to February this year.

An important indicator is that in 2020, the mentioned age uses different types of applications every day for 100 percent more than last year. The analysis concludes by saying that children watch twice as much video content a day as they did four years ago.

How did this percentage affect the history of the company that owns TikTok? ByteDance is currently the most valuable private company in the world, valued at about $100 billion.

Recall that last year the company generated $17 billion in revenue, of which more than three had a net profit. Along with the development of TikTok, the company also invests in e-commerce and gaming, but TikTok is still the main reason for this dominance.

According to some estimates, the value could be much higher, the company could reach between $150 and $180 billion if it decides to go public and trade.

> Check next: Facebook buys Giphy to integrate it into Instagram

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