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
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.For more updates, be socially connected with us on
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