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 [...]
Tiktok to open doors to experts in bid to calm safety fears April 27, 2021 Tiktok will allow experts and policymakers to see how it moderates content on its platform in the tech firm’s latest effort to allay safety concerns. The Chinese-owned viral video app said it will open a European Transparency and Accountability Centre, allowing outsiders to see “first-hand” how it runs moderation and safety practices. The centre will [...]
Screenshot: Is the Super League the biggest PR disaster of all time? April 23, 2021 This week **Media Moment of the Week: Radio loses a legend **Is the Super League the biggest PR disaster of all time? **Is Netflix’s pandemic party finally over? Media Moment of the Week: Radio loses a legend For many Brits, radio has been a much-needed source of entertainment (and company) during the pandemic. But long [...]
Tiktok sued for billions over children’s data concerns April 21, 2021 Tiktok is being sued for billions of pounds over allegations the video-sharing app illegally harvested the private data of millions of European children. The lawsuit, which is being backed by former children’s commissioner for England Anne Longfield, alleges that every child that has used Tiktok since 25 May 2018 may have had personal information collected [...]
Tiktok leases new London HQ above Farringdon’s Crossrail station March 5, 2021 Tiktok has leased a new London office building above Farrington East Crossrail station, developer Helical announced today. The tech firm has taken on the entire six-storey Kaleidoscope development, which includes 88,500 sq ft of office space. The lease is for a 15 year term with a 10 year break clause, and includes a market rent [...]
Alibaba billionaire Jack Ma dethroned as China’s richest man March 2, 2021 Alibaba founder Jack Ma has been dethroned as China’s richest man after disappearing from the public eye late last year, according to multiple media reports in China. The billionaire and Ant Group founder lost the title after his empire was placed under heavy scrutiny by Chinese authorities following challenges to fintech regulators he made in [...]
Bytedance in talks over sale of Tiktok assets in India after ban February 13, 2021 The Chinese owner of Tiktok is said to be in talks over a sale of its Indian assets to rival Glance after the viral video app was banned in the country. The discussions between Bytedance and Glance, which were initiated by Softbank, are complex and in early stages, Bloomberg reported. Google-backed Glance serves news and [...]
Tiktok’s forced sale to Oracle halted as Biden reviews China policy February 10, 2021 Tiktok’s sale of its US business to Oracle and Walmart has reportedly been put on ice as President Joe Biden reviews the Trump administration’s crackdown on Chinese firms. The video platform had been forced into offloading its American unit by former president Trump, who argued user data could be shared with Beijing. Tiktok has always [...]