Specialized Teamsīytedance uses its SSP platform differently from most companies. How has ByteDance managed to be so consistently successful? An important contributing factor, we argue, is its innovation strategy, which relies on a shared-service platform, or SSP. Respectively, Toutiao and Douyin account for 20% and 60% of the company’s total advertising revenues. But ByteDance has actually churned out one wildly successful product after another - among them its initial hit, Toutiao, the most popular news app in China, which today has 320 million monthly active users, and Douyin, a short-video app that preceded TikTok. Most users know the company only by its hit short-video app TikTok, which has been downloaded over 3 billion times globally, a feat only exceeded by Meta and its family of apps. In 2021, with 1.9 billion monthly active users in 150 countries, and an employee base of over 110,000, the company recorded an astonishing $58 billion in revenues. Retrieved 22 October 2020.At just 10 years old, ByteDance, the most valuable startup in the world, has shattered records for growth. "Apple says there are 1.4 billion active Apple devices". "Zoom Competitor, Google Meet, Is Now Adding 3 Million Users Per Day".
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