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- TikTok's parent company, ByteDance, saw a 60% revenue increase in 2023, Bloomberg reported.
- TikTok has driven ByteDance's recent success, allowing it to break into global e-commerce markets.
- This growth came as Congress debated, and then passed, a bill that could ban TikTok in the US.
Revenue to ByteDance, TikTok's parent company, grew by about 60% last year, blowing its competition out of the water.
The company's earnings jumped from $25 billion in 2022 to $40 billion in 2023, Bloomberg reported.