TikTok taps into ecommerce with UK live shopping launch December 8, 2021 TikTok is set to produce its first live shopping and entertainment event today, where people can buy products directly on the platform, tapping into the rise of "social shopping".
TikTok owner ByteDance on the hunt for new chairman after founder steps down November 3, 2021 The founder of Bytedance, which owns Tiktok, has stepped down from his role as chairman amid major organisational shifts at the tech giant, according to reports. Chinese billionaire and entrepreneur Zhang Yiming founded Bytedance in 2021 alongside college roommate Liang Rubo, the new Bytedance CEO who took up the role earlier this year after Yiming [...]
TikTok Europe turnover fattens from advertising spend as losses grow fourfold October 4, 2021 TikTok’s European turnover surged by 545 per cent to $171m last year as the social media platform raked in cash from advertisers’ increased spending, a new company filing revealed today. According to the Companies House filing, the Chinese-owned firm has invested in scaling its European side of the business through new hires and increased sales [...]
Data watchdog targets social media with new Children’s Code August 25, 2021 The UK data watchdog is setting its sights on social media and gaming companies with new regulations to protect children that come into force next week. The Children’s Code brings in new rules around protecting data for online services such as apps, online games and web and social media sites likely to be accessed by [...]
TikTok owner mulls Hong Kong IPO, once it can fly by hawkish regulators August 9, 2021 China’s ByteDance, the owner of popular short video platform TikTok, has yet again tabled plans to list in Hong Kong once it has addressed Chinese regulators’ concerns, according to reports. The news and entertainment group is eyeing the fourth quarter of this year or early 2022, the Financial Times reported, citing sources familiar with the [...]
Hipgnosis throws $1bn at latest song-buying spree, as TikTok rallies revenues July 5, 2021 Hipgnosis has thrown over $1bn during its latest stint of song-buying which spans 84 freshly bought back catalogues from the industry’s biggest names. Like-for-like valuation for Hipgnosis’ portfolio has grown 10.4 per cent during the year to 31 March 2021. Meanwhile, streaming income has lifted 18.4 per cent in the second half of the year. [...]
Burnley Women agree groundbreaking deal with TikTok to live-stream all home matches on the social media platform July 3, 2021 Burnley FC Women are to become the first UK football team to live-stream all of their home matches on TikTok. The groundbreaking arrangement is part of a wider deal with the social media platform which also sees TikTok become the team’s sleeve sponsor. It is the latest innovation adopted by Burnley FC’s American owners ALK [...]
Tiktok owner Bytedance doubles revenue as lockdown fuels viral videos June 17, 2021 The Chinese owner of Tiktok saw its revenue more than double last year as the pandemic drove up interest in the wildly-popular viral video app. In a memo to employees Bytedance said its revenue grew 111 per cent to $34.3bn (£25bn) in 2020, while gross profit rose 93 per cent to $19bn. Bytedance had roughly [...]
Listing bonanza: Here are the IPOs to watch out for this year June 16, 2021 Building on the momentum seen towards the end of last year, IPO activity in London is surging so far this year. However, Deliveroo’s recent IPO flop demonstrates that success is far from guaranteed. City A.M. compiled an overview of the UK, US and international IPO contenders to watch this year as the global economy recovers. [...]
Joe Biden revokes Trump’s ban on Tiktok amid China threat June 9, 2021 US President Joe Biden will reverse efforts made by Donald Trump’s administration to ban popular Chinese apps Tiktok and Wechat due to national security concerns. The former president had attempted to block new users from downloading the apps and ban other technical transactions, effectively banning them in the US. The courts blocked the orders after [...]