ByteDance’s revenue slowed 70% in 2021

ByteDance’s total revenue grew by 70% year-on-year to around $58 billion in 2021.

The TikTok owner’s growth is slower than a year earlier as China tightened its regulation of big tech companies.

In 2020, ByteDance’s total revenue grew by over 100% to $34.3 billion, Reuters has reported.

Tech news website The Information last November reported that ByteDance’s 2021 revenue was on track to rise about 60% to 400 billion yuan ($63.07 billion).

Besides TikTok, ByteDance’s other apps include its Chinese equivalent Douyin, news aggregator Jinri Toutiao and video-streaming platform Xigua.