Chinese tech giant ByteDance saw its total revenue grow by 70% year on year to around $58 billion in 2021, Reuters reported on Thursday, citing people with knowledge of the matter. The growth rate represents a slow down from the more than 100% year on year growth achieved in 2020, with China’s tightened regulations on big tech companies a major factor. The TikTok owner is valued at $353 billion (RMB 2.25 trillion), according to a December report from the Hurun Research Institute. [Reuters]
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