ByteDance clocks profit of Rs 3.4 crore in FY 2019

It has been reported that ByteDance spends about $15 million - $20 million per month on marketing in India

e4m by exchange4media Staff
Updated: Oct 31, 2019 6:23 PM
ByteDance

ByteDance, the China-based company that operates TikTok, Helo, and Vigo Video, has clocked  Rs 43.7 crore  revenue in FY 2019, according to reports. The profit stood at Rs 3.4 crore. The major share of ByteDance's revenue (Rs 41.5 crore) has reportedly come from service fees, while a lesser portion (Rs 2 crore) came from advertising. 

It is believed that profits will encourage the company to make further investments in India. According to news reports, in April this year, ByteDance said that it had invested $100 million in the last year, and is planning to invest a further $1 billion.

The company has a thriving user base in India with 270 million Monthly Active Users across TikTok, Helo, and Vigo Video. TikTok has surpassed Instagram in terms of Monthly Active Users.

 It has been reported that ByteDance spends about $15 million - $20 million per month on marketing in India. 

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