Tik Tok

Axios - TikTok's popularity hasn't translated into profits, Axios' Kerry Flynn and Dan Primack report. Wedbush analyst Dan Ives puts the value of TikTok's U.S. operations at $100 billion. He says that plunges to $40 billion if a buyout doesn't include the company's addictive algorithm. TikTok's U.S. revenue reportedly was between $16 billion and $20 billion in 2023. But CEO Shou Zi Chew has said the company is in the red. TikTok is spending big money to move its data to U.S. servers, grow its e-commerce business and partner with Oracle on data security. Still, the company touts 170 million U.S. monthly active users. That's nearly as many as Facebook, more than Instagram, and far more than either Snapchat or X, according to eMarketer. More