The slower pace of growth for ByteDance and China’s other major internet companies was largely attributed to Beijing’s crackdown on Big Tech, which is expected to continue this year. Photo: Shutterstock
TikTok owner ByteDance said to post slower revenue growth in 2021 amid China’s tech crackdown
- Privately held ByteDance was reported to have increased its revenue by 70 per cent to US$58 billion last year
- It marks a drop-off in performance for the world’s most valuable tech unicorn after posting a 111 per cent revenue growth to US$34.3 billion in 2020
The slower pace of growth for ByteDance and China’s other major internet companies was largely attributed to Beijing’s crackdown on Big Tech, which is expected to continue this year. Photo: Shutterstock
