This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
While TikTok might have a China problem, it certainly does not have a revenue problem.
According to new data by Apptopia, a market research and analysis firm that tracks revenue from mobile apps, the company's revenue grew by 310% on a year-over-year basis during the fourth quarter of 2019. During the same period in 2018, the company brought in just over $10 million and this has now jumped to over $50 million. Perhaps what's more impressive is the company's sequential gain from the third to the fourth quarter of this year saw its revenue rise from $20 million to $50 million.
TikTok has its best quarter ever? pic.twitter.com/zLhasaDhgq
— Adam Blacker (@AdamBlacker25) January 3, 2020
The data narrative of TikTok's incredible growth is backed up by data from SensorTower, another mobile analytics firm. In an email to TechChrunch, Randy Nelson, a VP of Insights at the firm, said: "gross TikTok in-app spending at approximately $87 million for the fourth quarter ($62 million net) in all markets across the App Store and Google Play (excluding China)".
According to App Annie, which tracks mobile app downloads, TikTok was the seventh most downloaded app of the 2010s which is impressive as its only been available for the past two years.
For 2019, App Annie says TikTok was the most downloaded non-game app, surpassing Instagram. App Annie's 2019 data also shows the rise of the Chinese app ecosystem with Likee, a similar short video app, surpassing Snapchat, Netflix, and Spotify in downloads (worldwide, excluding China).
To try and quell fears about data privacy and hygiene, TikTok reportedly has been on the hunt for a new corporate headquarters and has narrowed down the contenders to Dublin, London, or Singapore. The company also recently released a transparency report that said Chinese authorities have yet to request that TikTok remove content from its platform, or ask for information about a specific user.