TikTok’s US revenue hits $16 billion as Washington threatens ban, FT reports

ByteDance's revenue of $120 billion in 2023 was up about 40% from a year earlier, driven by TikTok's exploding growth, although China accounts for a big portion of the company's sales, the FT reported, citing five people with knowledge of the matter. The short video app, used by about 170 million Americans, achieved record sales in the United States in 2023, according to the report. The U.S. House of Representatives on Wednesday overwhelmingly passed a bill that would give ByteDance about six months to divest the U.S. assets of TikTok, or face a ban.