ByteDance is expected to grow sales by 30% in 2023 to $110 billion, or surpass Tencent

According to news from this site on December 20, according to market news obtained by Bloomberg, ByteDance’s sales in 2023 are expected to increase by 30% to US$110 billion (Note from this site: currently about 784.3 billion yuan ), surpassing Tencent.

Informed sources revealed that the growth rate of ByteDance, the world’s most valuable startup, is roughly equivalent to the 30% growth rate in 2022. The company reported sales of more than $80 billion at the time. The person familiar with the matter requested anonymity because the information has not yet been made public. Sources said that ByteDance will buy back $5 billion worth of options from investors,

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ByteDance announced in November that its gaming business will undergo large-scale business contraction. For games that are already online and performing well, we will seek to divest them while ensuring operations; for projects that have not yet been online, except for a small number of innovative projects and related technology projects, they will be shut down

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