ByteDance aims to match Meta sales in 2025 as TikTok gains steam
ByteDance
is targeting
revenue growth
of about 20% in 2025 despite a potential
global economic downturn
, a pace of expansion that could help it match
Meta Platforms
's global business.
TikTok
's owner expects sales to increase to roughly $186 billion from $155 billion in 2024, people familiar with its finances said. That caps years of 20%-plus growth and would take the Chinese internet leader to just a whisker below Meta's projected revenue of about $187 billion this year. ByteDance now claims more than 4 billion monthly active users for its suite of apps, in the ballpark of Meta's, the people said, asking to remain anonymous discussing private projections.
TikTok's dizzying ascent has come under the spotlight since the Biden administration led an effort to ban the Chinese-owned
social media
phenom from the US, citing national security concerns. Trump in turn is giving ByteDance time to strike a deal to sell TikTok — a months-long process that's already drawn interest from the likes of Amazon.com Inc. to Oracle Corp.
Despite the threat of a US shutout, ByteDance's international business has soared as TikTok expands globally. While its envisioned 2025 growth rate is down slightly from last year's 29%, that target may shift as executives get a better sense of the business.
A ByteDance spokesperson didn't respond to requests for comment.
SoftBank Group
's Vision Fund revalued the company to north of $400 billion last year, in part because of its growing presence in
generative AI
. Fidelity Investments and T. Rowe Price Group Inc. have also marked up ByteDance, valuing it at above $410 billion and $450 billion, respectively, Bloomberg News has reported.
Still, growth overall for the startup slowed sharply from 2023.
Its flagship Chinese video platform
Douyin
is grappling with waning consumption and
advertising spending
across the world's second-largest economy. TikTok — a near-identical replica of its Chinese cousin — has in the meantime taken up more of the burden for topline growth.
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