ByteDance sales surpass Tencent’s to reach US$110 billion as TikTok owner pushes into e-commerce
ByteDance’s sales surged in 2023 to more than US$110 billion, according to people familiar with the matter, potentially overtaking arch-foe Tencent Holdings in a sign TikTok’s fledgling e-commerce business is driving growth at a time of economic malaise. The world’s most valuable start-up’s growth broadly matched the 30 per cent pace it managed in 2022, … Read more
