TikTok brand value 2023

ByteDance’s triumphant TikTok/ Douyin is one of the most successful Chinese brands that have made its name beyond borders. The short video brand enjoyed immense popularity around the world, surpassing Instagram and WhatsApp to be the most downloaded mobile app. In 2023, the brand value of TikTok/Douyin amounted to 84 billion U.S. dollars. It was the most valuable unicorn worldwide in 2023 with a market cap of 200 billion U.S. dollars.

TikTok versus Douyin: the major differences

After Douyin’s success in China, ByteDance launched TikTok - a separate, international version of Douyin- in 2017. The video-sharing platforms, though quite similar in interface and functions, are two independent entities. Douyin and TikTok differ in accessibility (mainland China versus rest of the world), content results (China-based content versus international content), positioning (skills and lifestyle-tips-based versus more art-based), and functions (Douyin has more advanced live streaming and in-app purchase features).

Who is using TikTok and Douyin?

The duo possessed a large user base. In 2024, TikTok was estimated to have over 900 million users while that of Douyin would exceed 795 million in China. American and Southeast Asian countries were TikTok’s major markets. On average, the international version had a relatively older user composition than its Chinese sister app – a third of users aged below 34 years registered on TikTok versus two-thirds on Douyin. In some countries like the United States, TikTok has achieved a high penetration rate among young adults.