ByteDance is the parent company of short-form video platform TikTok.
The Chinese firm, operationally headquartered in Beijing and legally headquartered in the Cayman Islands, was founded in 2012.
ByteDance owns both TikTok and Douyin – a sister product to TikTok for the Chinese market.
In late 2017, ByteDance acquired short-form video and karaoke platform Musical.ly for a price-tag reportedly in excess of $800 million.
Musical.ly was combined with TikTok the following year into a merged application under the TikTok brand.
According to Bloomberg, ByteDance generated more than $17 billion in revenues in 2019, in addition to over $3bn in annual net profit.Music Business Worldwide