TikTok parent's revenue growth slowed to 70% in 2021: Report

TikTok-parent ByteDance saw a slowed growth of 70% year-on-year in its total revenue at around $58 billion in 2021, Reuters reported citing sources. In 2020, its total revenue grew by over 100% to $34.3 billion. ByteDance has retained its second-ranked position in China's online advertising market last year, with a market share of 21%, according to Interactive Marketing Lab Zhongguancun.