According to Theinformation, ByteDance is narrowing the revenue gap with Facebook's parent company Meta, with its advertising and e-commerce revenue growing substantially.

According to a person familiar with the matter, ByteDance's revenue in the second quarter increased by more than 40% year-on-year to $29 billion (211.41 billion yuan). That growth rate is much higher than other advertising-led Internet companies, including Meta, whose revenue grew 11 percent to $32 billion over the same period.

The report also said that Bytedance 2023 revenue in the first half of about $54 billion.

On November 8, ByteDance opened the second round of employee option repurchase this year. The price is $160 per share before taxes, up 3% from $155 per share in the previous round. The pre-tax repurchase price is $128 per share for former employees and $160 per share for current employees.

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