TikTok, owned by Bytedance, which competes against Facebook and Google in the online advertising space in India. Bytedance ecosystem achieved Rs 20 crore quarter revenue in the period ending December 2019 and growing in the double digit and the India chief has eyed the growth to reach to atleast 50%. The app now has over 1.5 billion downloads worldwide with India leading the chart with 466.8 million numbers. TikTok’s growth is “largely driven by India as the country has been a fast adopter in 2019. TikTok has a dedicated office in India and is headed by Nikil Gandhi.

Bytedance has three products in the local portfolio (TikTok, Vigo and Helo) that collectively counts 250 million Plus users in India. It also started monetising through advertising in India.TikTok is continuously gaining popularity because of it allows users to create and share short videos with special effects. Apart from this, users also get a few fun editing tools to edit videos and share on social media. A lot of TikTok users also dance, jump, and lip-sync to pop sings and music in the app.

The growth roadmap started from China with ,way back 2019, TikTok, has unveiled it's first smartphone by the name Jianguo Pro 3 (or ‘Nut Pro 3’), the flagship-grade smartphone is currently on sale in the Chinese market for a starting price of 2,899 yuan (Rs 29,051 approx) under the Smartisan brand name. Powered by a Qualcomm Snapdragon 855 Plus chipset (right from the lock screen., which is a mid-generation processor  and the processor is designed to raise the bar for gaming and VR users - thanks to its clock boosted CPU and GPU cores. Other than the speed boosts, which may be worthwhile to some, there doesn't seem to be any other significant changes here).

The USP of Jianguo Pro 3 allows the user to access Duoyin, the Chinese version of TikTok. Secondly, the Smartisan's product page says, the Jianguo Pro 3 is available in three variants: 8GB RAM + 128GB storage,8GB RAM + 256GB storage, and 12GB RAM + 256GB storage. The Jianguo Pro 3 sports a 6.39-inch Full HD+ AMOLED screen with an in-display fingerprint scanner. Its back panel is home to four cameras, including a 48MP Sony IMX586 primary sensor with an aperture of f/1.75, 13MP ultra-wide sensor, 8MP telephoto lens, and a 5MP super-macro lens. The selfie camera is a single 20MP unit with an aperture of f/2.0.
 

Even thoe, the app has been in the limelight on the criticism by several governments for spreading misinformation. The Chinese firm has now hired a team to monitor and advise on content moderation and public policy in several countries including India. Tiger Global Management has made an investment in Bytedance. The New York-based investment group revealed this in a letter to investors this week. Tiger acquired stakes at a significant low valuation through secondary transactions in the past 21 months.

As per the FT report, Tiger Global ‘purchased shares over the past 21 months at a low multiple of future free cash flow’. Tiger started buying Bytedance at about half the value post-Softbank $3 billion round two years ago. Known for its popular short video-sharing app TikTok, Bytedance was valued at $75 billion in 2018.

Based on secondary markets estimation, Bytedance recently was valued anywhere between $90-100 billion, the report says.As per the Tiger Global, Bytedance is expected to command 19% of China online advertising market in 2020, from 4% in 2017.

Besides China, ByteDance has emerged as the world’s most valuable startup on the explosive popularity of its short video entertainment app TikTok. The company had last raised $3 billion of primary investment from SoftBank Group and others at a valuation of $75 billion.