NEWS

ByteDance valuation under huge pressure as TikTok sale nears

Published

4 years ago

August 10, 2020

bytedance valuation under huge pressure as tiktok sale nears

As it reached an estimated valuation of $100 billion this year, TikTok’s parent company ByteDance solidified its status as the most valuable startup in private markets. Its success outside China has also become a source of envy and inspiration among its local peers.

Now, the company’s price tag is under tremendous pressure as it’s set to shed its prized asset TikTok, several investors told TechCrunch.

ByteDance last year generated 120 billion yuan ($17.2 billion) in revenue, said an investor with knowledge of the matter. Around 67% was derived from ads sold on its domestic apps Douyin, TikTok’s Chinese version, and popular news aggregator Toutiao. Live streaming targeted at users of Douyin and another app in the family made up about 17%. Nascent businesses including games, e-commerce and TikTok accounted for 20 billion yuan, or roughly another 17%.

The company projected its 2020 revenue at 200 billion yuan ($28.7 billion), with TikTok and other emerging businesses contributing 30 billion yuan, or 15%, according to the investor. Previous reports by Reuters and Bloomberg cited similar revenue figures.

Although TikTok continues to account for only a fraction of ByteDance’s income, the addressable market is enormous. “It went from having a potential overseas market of 6 billion users to just China, where Douyin and Toutiao are reaching saturation,” the investor said.

Moreover, TikTok has only begun to monetize its enormous user base. The app experienced exponential growth and surpassed 2 billion downloads this year as COVID-19 lockdowns kept people indoors, but it’s unclear how much eyeball time it will retain when social life returns to normal. The app already lost its largest market (India), which accounted for about one-third of its user base, according to the investor, though app spending in the country is relatively low.

ByteDance did not respond to a request for comment.

What’s left

Back home, the eight-year-old company faces a crammed market. Tencent-backed Kuaishou claimed that 300 million people used its short-video platform daily at the beginning of this year, while Douyin said it reached 400 million DAU around the same time. Toutiao is coping with challengers from various fronts, from microblogging veteran Weibo to WeChat’s in-app news feature.

Like all other tech giants, ByteDance keeps a pipeline of projects alongside its cash cows. It’s known for its ability to churn out new products, thanks to an organizational structure that divides the firm by functions, primarily technology (development), user growth and monetization, earning it the nickname of an “app factory.”

The company’s more high-profile gestures are in mobile games, a lucrative internet business where it competes head-on with Tencent; education, which could allow it to ride the wave of online education in China; and enterprise software, represented by its work collaboration platform, Lark.

So far, none of these new efforts are remotely close to the success of TikTok, Douyin and Toutiao in user acquisition and monetization. It remains to be seen how the poster child for Chinese apps’ globalization strives to hold onto its domination. One thing is for sure: ByteDance’s founder and CEO Zhang Yiming will not let his company shrink from its global ambitions even as it stumbles overseas.

Related Topics:Asia bytedance China Social tiktok

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FACEBOOK

Facebook Faces Yet Another Outage: Platform Encounters Technical Issues Again

Published

1 month ago

March 20, 2024

Max

Uppdated: It seems that today’s issues with Facebook haven’t affected as many users as the last time. A smaller group of people appears to be impacted this time around, which is a relief compared to the larger incident before. Nevertheless, it’s still frustrating for those affected, and hopefully, the issues will be resolved soon by the Facebook team.

Facebook had another problem today (March 20, 2024). According to Downdetector, a website that shows when other websites are not working, many people had trouble using Facebook.

This isn’t the first time Facebook has had issues. Just a little while ago, there was another problem that stopped people from using the site. Today, when people tried to use Facebook, it didn’t work like it should. People couldn’t see their friends’ posts, and sometimes the website wouldn’t even load.

Downdetector, which watches out for problems on websites, showed that lots of people were having trouble with Facebook. People from all over the world said they couldn’t use the site, and they were not happy about it.

When websites like Facebook have problems, it affects a lot of people. It’s not just about not being able to see posts or chat with friends. It can also impact businesses that use Facebook to reach customers.

Since Facebook owns Messenger and Instagram, the problems with Facebook also meant that people had trouble using these apps. It made the situation even more frustrating for many users, who rely on these apps to stay connected with others.

During this recent problem, one thing is obvious: the internet is always changing, and even big websites like Facebook can have problems. While people wait for Facebook to fix the issue, it shows us how easily things online can go wrong. It’s a good reminder that we should have backup plans for staying connected online, just in case something like this happens again.

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NEWS

We asked ChatGPT what will be Google (GOOG) stock price for 2030

Published

1 year ago

March 20, 2023

Entireweb News Bot

We asked ChatGPT what will be Google (GOOG) stock price for 2030

Investors who have invested in Alphabet Inc. (NASDAQ: GOOG) stock have reaped significant benefits from the company’s robust financial performance over the last five years. Google’s dominance in the online advertising market has been a key driver of the company’s consistent revenue growth and impressive profit margins.

In addition, Google has expanded its operations into related fields such as cloud computing and artificial intelligence. These areas show great promise as future growth drivers, making them increasingly attractive to investors. Notably, Alphabet’s stock price has been rising due to investor interest in the company’s recent initiatives in the fast-developing field of artificial intelligence (AI), adding generative AI features to Gmail and Google Docs.

However, when it comes to predicting the future pricing of a corporation like Google, there are many factors to consider. With this in mind, Finbold turned to the artificial intelligence tool ChatGPT to suggest a likely pricing range for GOOG stock by 2030. Although the tool was unable to give a definitive price range, it did note the following:

“Over the long term, Google has a track record of strong financial performance and has shown an ability to adapt to changing market conditions. As such, it’s reasonable to expect that Google’s stock price may continue to appreciate over time.”

GOOG stock price prediction

While attempting to estimate the price range of future transactions, it is essential to consider a variety of measures in addition to the AI chat tool, which includes deep learning algorithms and stock market experts.

Finbold collected forecasts provided by CoinPriceForecast, a finance prediction tool that utilizes machine self-learning technology, to anticipate Google stock price by the end of 2030 to compare with ChatGPT’s projection.

According to the most recent long-term estimate, which Finbold obtained on March 20, the price of Google will rise beyond $200 in 2030 and touch $247 by the end of the year, which would indicate a 141% gain from today to the end of the year.

2030 GOOG price prediction: Source: CoinPriceForecast

Google has been assigned a recommendation of ‘strong buy’ by the majority of analysts working on Wall Street for a more near-term time frame. Significantly, 36 analysts of the 48 have recommended a “strong buy,” while seven people have advocated a “buy.” The remaining five analysts had given a ‘hold’ rating.

1679313229 737 We asked ChatGPT what will be Google GOOG stock price — *Wall Street GOOG 12-month price prediction: Source: TradingView*

The average price projection for Alphabet stock over the last three months has been $125.32; this objective represents a 22.31% upside from its current price. It’s interesting to note that the maximum price forecast for the next year is $160, representing a gain of 56.16% from the stock’s current price of $102.46.

While the outlook for Google stock may be positive, it’s important to keep in mind that some potential challenges and risks could impact its performance, including competition from ChatGPT itself, which could affect Google’s price.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

NEWS

This Apple Watch app brings ChatGPT to your wrist — here’s why you want it

Published

1 year ago

March 10, 2023

Entireweb News Bot

ChatGPT feels like it is everywhere at the moment; the AI-powered tool is rapidly starting to feel like internet connected home devices where you are left wondering if your flower pot really needed Bluetooth. However, after hearing about a new Apple Watch app that brings ChatGPT to your favorite wrist computer, I’m actually convinced this one is worth checking out.

The new app is called watchGPT and as I tipped off already, it gives you access to ChatGPT from your Apple Watch. Now the $10,000 question (or more accurately the $3.99 question, as that is the one-time cost of the app) is why having ChatGPT on your wrist is remotely necessary, so let’s dive into what exactly the app can do.

What can watchGPT do?

Now if you need a quick refresher on ChatGPT in general, you can read our handy guide answering what is ChatGPT, but in short the artificial intelligence (AI) tool understands and responds to natural language questions based on its vast trove of knowledge gleaned from around the web. Now that can be applied in lots of different ways, to answer questions for you or produce written content based around a prompt.

That core functionality of ChatGPT is a big part of what you can do with watchGPT, quickly accessing it through a complication on your watch. Imagine an actually useful version of Siri on your wrist, that’s what watchGPT promises. Whether the answers are incredibly helpful or completely off-the-wall (which happens), you can easily share the results of your chats over text, email, or on social media (internet celebrity here you come).

The other major use case for watchGPT is generating longer messages quickly on your watch without trying to type with the built-in keyboard or relying on the at times questionable dictation results. Tell watchGPT the type of message you want and it will just write it for you, whether that’s a sonnet for your spouse or a lengthy explanation to your boss on why you are going to be in late this morning.

The app doesn’t store any data, so your watchGPT questions and prompts are yours alone unless you share them with people.

The developer is at work on a number of updates as well. At present you can only pose a single question/prompt at a time, typically the conversational nature of ChatGPT is part of its appeal, that will be possible in the next update. Other updates include a history, the ability to set it to vocal input by default, and the option to have its responses read out loud.

For a one-time fee of $3.99 it’s certainly an interesting application for ChatGPT and one that I think is worth giving a try.

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(Image credit: Modum B.V.)

How to get ChatGPT on your Apple Watch

Just download watchGPT from the App Store (opens in new tab) and you’ll be on your way. Again the app allows you to set it up as a complication for easier access, but otherwise just ask it your question or ask it to type something out for you and it will quickly get the job done.

While ChatGPT may feel omnipresent already, we are still just seeing the tip of the iceberg for its potential usage, so we’ll be keeping our eye out for any unique or interesting applications of the versatile AI tool.