ByteDance Surpasses Baidu and Tencent in Digital Ad Revenue
Baidu (NASDAQ: BIDU), Alibaba (NYSE: BABA), and Tencent (OTC: TCEHY) are traditionally considered the three largest digital advertising platforms in China. Baidu owns the country's leading search engine, Alibaba's Taobao is its largest platform for paid product listings, and Tencent's WeChat is the top mobile messaging app.
However, a recent report from consultancy firm R3 claims that ByteDance -- the Chinese start-up that owns TikTok, Toutiao, and other popular apps -- actually overtook Baidu and Tencent in China's digital advertising market in the first half of the year.
Image source: ByteDance.
Source Fool.com
