Update | China’s ByteDance expects to earn half of its revenue from overseas in five years

Operator of news aggregator Toutiao has been acquiring video content apps including Musical.ly

Exterior view of the Beijing ByteDance Technology headquarters in Beijing. The company is best known for a mobile app called Jinri Toutiao, or Today's Headlines, which aggregates news and videos from hundreds of media outlets. Photo: Bloomberg

Beijing ByteDance Technology, the Chinese news aggregator that recently acquired a lip-synching video app popular with American teens, said it expects overseas markets to contribute half of its revenue in five years as it expands services to more countries.

Best known in China for its mobile news app, Jinri Toutiao, or Today’s Headline, which has 120 million daily active users, ByteDance is going through an overseas buying spree that recently bagged the popular teen app Musical.ly, to create a global user base to deliver its content.

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