Apptopia, a start-up that tracks revenue and usage in the mobile app market, said in-app purchases from TikTok, a short video app that is popular in the international market, rose 310 percent year-on-year. The chart, shared by Adam Blakcer on Twitter, shows that the popular video social app’s in-line revenue has now reached a substantial size (more than $50 million).
Apptopia, a Boston-based start-up, has raised $8.2 million to compete with AppAnnie.
Compared to the approximately $20 million in revenue for the third quarter of 2019, TikTok’s performance in Q4 2019 was impressive. If this trend is maintained ( with annual revenue of hundreds of millions of dollars ), the company could hit the IPO in 2020.
In addition, according to SensorTower, another mobile app intelligence firm, TikTok’s total market revenue in the Apple App Store and Google Play Store was about $87 million (net $62 million), which does not count the performance of the local Chinese market.
What’s more, Randy Nelson noted in an email that he expects TikTok to grow nearly 521 percent year-on-year.
Finally, ByteDance, TikTok’s parent company, has a market capitalisation of more than $70 billion and is known for its headline social media services and TikTok short video applications. From an investor’s point of view, ByteDance is a valuable company.