Almost everyone knows TikTok and may have been one of its users. But do you know the history of Tik Tok applications? Who is the creator of this application and how can this application be so global? Here’s the full review of how much is TikTok valuation.
History of TikTok
As many already know, Tik Tok is an application originating from China with a parent company called ByteDance. Tik Tok is a social media application that specifically shares creative short videos.
However, videos on Tik Tok are not just videos. Tik Tok also has several choices of music and filters to increase the creative value of a video that makes TikTok valuation millions of dollars. So it’s not surprising, even though it’s only 15 seconds long, Tik Tok videos can contain a lot of interesting things.
Zhang Yiming is the one behind TikTok. Yiming himself is a graduate of Nankai University majoring in Software Engineering. Initially, Yiming only founded a techno company called Byte Dance.
Previously, this application was not called TikTok but Douyin. This application is also not in any other country except China. Previously the name of this application was Douyin where users could share short videos with a duration of 15 seconds to all users.
See more: How to buy TikTok Coin
But apparently, this is where the history of TikTok valuation in the world begins. Douyin made a sizable profit in China with the number of users reaching 100 million people in just one year. Therefore, the ByteDance company has a pretty big idea, which is to introduce this application to the world.
Because Douyin is not familiar to people outside of China, therefore the name was changed to TikTok. To make it easier to remember and attract the attention of other countries. This is the origin of the history of the worldwide Tik Tok application.
How Much TikTok Worth Now?
Based on CB Insights data, ByteDance is the startup with the largest valuation in the world as of the first quarter of 2022. The startup from China, which owns the social media application Tiktok, has a valuation of US$140 billion. After that, TikTok is followed by many giant company such as:
1. SpaceX with a valuation of US $100.3 billion.
SpaceX is a startup engaged in space transportation owned by the richest man in the world, Elon Musk.
The third position is occupied by a startup in the fintech sector, Stripe with a valuation of US $95 billion.
Klarna is a company from Sweden that has a valuation of US$45.6 billion.
5. Epic Games
Epic Games is known by gamers which has a valuation of US$42 billion.
Next is Canva with a valuation of US$40 billion, and followed by Checkout.com with a valuation of US $40 billion and Instacart with a valuation of US $39 billion.
That’s some information about how big and amazing TikTok valuation now. In 2022, the app is still growing and may outstand other social media. Not to mention, TikTok is not only aiming on Social Media and Ads but also other business models such as e-commerce. May this article be useful.