Sources: TikTok, New CEO Aim For $500M U.S. Revenue This Year

TikTok under new CEO Kevin Mayer "aims to generate $500 million in revenue from the U.S. alone" this year after bringing in $200-300M in revenue worldwide last year, according to sources cited by Zhang & Dotan of THE INFORMATION. Among TikTok's plans to attract more ad dollars is "expanding access to a self-service platform for ad buyers in the U.S. and Europe."This "would make it easier for marketers to buy ads and tailor campaigns to specific groups on TikTok." A source indicated that TikTok had 50 million "daily active users in the U.S. as of a couple of months ago, almost five times the number from last year." Zhang & Dotan noted that "compares with 88 million for Snapchat, 33 million for Twitter and 195 million for Facebook at March 31." Even before hiring Mayer last month, TikTok had been "building up its U.S. business team, hiring heavily from social media and tech companies including Facebook, Spotify and Snap" (THEINFORMATION.com, 6/17).