ByteDance has been a spectacularly innovative and successful company over the past decade. This has been true for TikTok and many of its other apps, which have a lot of users. The company's secret? It uses a shared-service platform to power innovation. The authors explain how ByteDance has used its SSP to fuel growth.
ByteDance, the most valuable startup in the world, has shattered records for growth at just 10 years old. In the year of 2021, the company had 1.9 billion monthly active users in 150 countries and an employee base of over 100,000. Meta and its family of apps are the only ones that most users know about, as their hit short-video app TikTok has been downloaded over 3 billion times. Toutiao, the most popular news app in China, is one of the wildly successful products churned out by ByteDance. 20% and 60% of the company's total advertising revenues are accounted for by Toutiao and Douyin.
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