3/2/2024 0 Comments Wechat newsWith its massive user base and track record in social media, Bloomberg said, “It could also eventually help ByteDance to bring the everything model to other markets through TikTok, assuming it eventually figures out the delicate politics of operating in U.S. estimates that by 2025, Douyin could facilitate 300 billion yuan ($42.1 billion) in on-demand transactions, generating more than 17 billion yuan in revenue from its commissions.”īyteDance’s move into the delivery space is still in its early stages, but the company’s focus on becoming an all-in-one platform is clear. Last year, Douyin’s 700 million users increased their spending on these on-demand services sevenfold, the company says, though it doesn’t disclose a specific number. ![]() Whether it be to purchase goods, track exercise activity, catch up on news or stay connected to friends, users are utilizing WeChat for so much more than just messaging. It has also put increasing focus on real-world commerce through food orders, flight bookings and hotel reservations. Additionally WeChat’s daily active users (users who interact with another account) has grown by 64 percent in a single year. It has branched into video games and online shopping. This integration of delivery services into Douyin is a clear indication of ByteDance’s focus on becoming an all-in-one platform.Īs Bloomberg reported on Wednesday (June 14), “ByteDance has spent years laying the foundation for its own everything service. Additionally, users can search for movie theaters, bars and beauty salons within the app. The Douyin app already includes links to place delivery orders or redeem coupons for products shown in videos, making it easy for users to make purchases directly from the app. WeChat Pay, which was built using the framework of Tenpay, has over 900 million users and has supplanted AliPay as the most popular payment service in the country.” The company is also expanding its offerings to include food and grocery delivery in major cities like Beijing and Shanghai, in a bid to capture a larger share of the Chinese market and challenge WeChat’s dominance as the go-to app for everything from messaging to shopping.įor context, according to Business of Apps, WeChat “is the only app in China to have over 1 billion active users and is one of only five apps in the world which have surpassed that milestone. With most of its $80 billion annual revenue coming from social media ad revenue, ByteDance has been testing its Douyin app, which features streaming videos and messaging. WeChat’s widespread use among Chinese-speaking Americans makes it an important source of news for the United States-based Chinese diaspora, including international students, first-generation. ![]() ByteDance, the parent company of popular social media app TikTok, is on a mission to become China’s next “everything app” to rival the success of WeChat by Tencent.
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