News Snapshot:
ByteDance Sees Revenues Double As TikTok Expands Matthew Broersma , Linkedin ByteDance sees revenues more than double in 2020 as TikTok continues rapid expansion worldwide, as Chinese apps face new pressure in US Chinese company ByteDance, which operates TikTok, saw its revenues more than double last year as usage of the video app skyrocketed. In a memo to employees the privately held company said revenues increased 111 percent to $34.3 billion (£24.7bn). The company, which was under pressure last year to sell its US operations to a third party, also reported a 93 percent increase in gross profit to $19bn....
