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ByteDances Douyin has 600 million daily active users

TikTok logos are seen on smartphones in front of a certain ByteDance logo in this illustration taken on November 27, 2019.

Given Ruvic | Reuters

SINGAPORE – Douyin, the Chinese version of the popular short video sharing app TikTok, hit 600 million daily active users in August, parent company ByteDance said on Tuesday.

Over 22 million creators earned more than 41

.7 billion yuan ($ 6.15 billion) on the platform over the past year, ByteDance China CEO Kelly Zhang said at the Douyin Creator Conference in Shanghai. The company also announced plans to invest 10 billion yuan in traffic resources to support creators and aims to double their revenue to 80 billion yuan in the coming year.

Both Douyin and its international version, TikTok, have started in a big way for ByteDance, which is now one of the most valuable privately owned Chinese technology companies.

TikTok reported nearly 700 million active users each month in July and more than 2 billion in global downloads.

Both applications have the same core function – the ability to create and share short videos with added music and special effects available on apps.

But Douyin has more advanced features, including a more detailed website, e-commerce, more sophisticated setup for official accounts and sponsored challenges, live streaming and the ability to upload full-length movies, according to a February report from research firm Gartner. Some of these features on Douyin, such as e-commerce, are being tested by TikTok.

TikTok’s problems

TikTok faces a wave of regulatory scrutiny and challenges in its major markets. The app is now banned in India for national security reasons.

In the United States, where TikTok has about 50 million daily active users, the White House had given ByteDance a deadline of September 20 to come up with a plan to sell the video app’s operations in the United States or be banned on September 29. to be done before November 12th. The U.S. government said there were concerns about national security, but TikTok has denied those allegations.

ByteDance on Sunday rejected Microsoft’s bid to buy TikTok’s US operations. Instead, Oracle will become TikTok’s US technology partner, and the company’s software giant will take a significant share in TikTok’s business, says a person familiar with the discussions, CNBC.

It remains unclear whether the U.S. government will approve a restructuring plan that will still keep TikTok’s U.S. business under Beijing-based ByteDance’s operational control. Earlier, China pushed back on a tentative sale of U.S. assets, saying it would need to approve a deal involving the export of the lucrative artificial intelligence technology used by TikTok.

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