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NetChoice is a trade association fighting for free speech and free enterprise online. This page is a new education project of NetChoice’s.
The goal of our Tech Competition webpage is to show how the abundance of competition in the tech industry benefits consumers through new exciting services, and market signals pushing businesses to constantly innovate and improve their offerings to their customers. We’ll keep this page updated frequently with news and facts that highlight the prevalence and impact of vigorous competition in U.S. tech markets.
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“ByteDance’s revenue rose 34% to $24.5 billion in the first quarter, a slight slowdown from its 38% revenue growth in the 2022 calendar year. ByteDance revealed its financial statements to employees as it offered to buy back their shares. The price of that buyback, of $160 per share for employees who have worked at ByteDance for less than two years, implies a valuation of $223.5 billion.”
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