TikTok, the short-form video platform, has become one of the most popular social media platforms in the world. With over 800 million users and counting, it has become a major player in the digital media landscape.
The app has been credited for sparking creative content and allowing users to connect with one another in ways that were not possible before. But is TikTok a public stock?
The short answer is no – TikTok is not a publicly traded company. It is owned by ByteDance, a Chinese technology company that also owns Douyin, TikTok’s sister app in China. ByteDance is privately held and has yet to make any announcements regarding an IPO (Initial Public Offering).
Despite being privately held, TikTok has seen major success just like its publicly traded counterparts. In 2020 alone, the app saw a 60% increase in daily active users and reached $1 billion in global ad revenue. Additionally, it was named Apple’s App of the Year for 2020 and launched several initiatives to bring more creators onto their platform.
The company has also made several investments into other companies as well as expanding its own internal operations. In April 2021, ByteDance invested $150 million into Kuaishou Technology Co., a leading short-video platform in China.
TikTok is not a publicly traded company at this time and remains privately held by ByteDance. Despite this, it has enjoyed tremendous success with increasing user numbers and ad revenue growth. While there have been no announcements regarding an IPO yet, it remains to be seen if or when that may happen.