This year is the 25th year of Tencent's establishment, belonging to China's domestic "veteran" Internet technology companies.。Over the years, Tencent's revenue has been among the best among its peers。But this year, Tencent is likely to be established so far only 11 years of byte beat (hereinafter referred to as "byte") to "beat"。

According to people familiar with the matter, Byte's revenue in 2023 will soar to more than $110 billion (approximately RMB 785.9 billion), potentially surpassing Tencent's。In 2022, Tencent's revenue reached 554.6 billion yuan (RMB, the same below)。In the first three quarters of this year, Tencent's revenue was 453.8 billion yuan.。If the average year-on-year growth rate for the first three quarters of this year is 10.67% to calculate, then Tencent's total revenue this year may be 613.8 billion yuan, and the gap with the byte will reach about 170 billion yuan.。

Last year, Byte disclosed more than $80 billion in revenue, which means that Byte's revenue growth this year is expected to be around 38%, up from about 30% last year.。It's really not easy for a large company of the size of a byte to have such a high revenue growth rate.。

Still, it's unclear how Byte's profit metric will perform this year。Previously, it had been estimated that Byte's profits reached about $25 billion in 2022, a 79% year-on-year surge.。As an unlisted company, Byte has much fewer disclosure and audit requirements than its listed competitors。Although its internal data has not been independently audited, its sheer size suggests it will be one of China's highest-paid companies in 2023.。

Although byte in the United States, India, Southeast Asia and other markets are subject to strict scrutiny and restrictions, but this does not prevent its business in a number of countries, its short video software has long been popular in many markets around the world.。This year, the company has used its tremolo and TikTok's huge traffic to speed up the layout of e-commerce and other areas.。

In China, Douyin is transforming into an integrated platform with built-in functions such as food orders, airline tickets and hotel reservations, with the intention of competing for market share from Alibaba and takeaway giant Meituan.。

Overseas, TikTok is following the same strategy, combining short video and e-commerce in markets such as the United States and Southeast Asia.。This month, TikTok spent $1.5 billion to become the controlling shareholder of Indonesian tech giant GoTo's e-commerce unit Tokopedia.。The move allowed TikTok to restart its online retail service after months of scrutiny by the Indonesian government.。The deal is also one of Byte's biggest acquisitions in recent years, and it can be seen that Byte is returning to the e-commerce track at the expense of "blood money."。

However, in the e-commerce channel, TikTok is under a lot of pressure.。Because it wants to focus on the two markets, the competition in the field of e-commerce is very fierce.。In particular, this year's dark horse, Temu, has achieved good results in many countries and regions around the world, and its expansion is faster than TikTok.。

So in the long run, it's still unknown whether Byte will continue to challenge major existing e-commerce companies on its turf.。In addition, for this year's hot field of artificial intelligence, byte has not yet had any bright results。It remains to be seen whether the company can catch up with the pace of global AI technology companies and leave its mark in the field of artificial intelligence.。

Byte also seems to realize that he should adjust his new business focus.。Recently, the company has made drastic changes to its business.。At the end of October, byte of its VR company PICO "pain killer," layoffs of hundreds of people。At the end of November, Byte cut its gaming business, affecting nearly a thousand employees.。

Byte did not hesitate to abandon both businesses, both because the business did not grow as expected.。After cutting down the game business, Byte CEO Liang Rubo said that although the company's game business has made some achievements, but in the past few years Byte game pursuit of "big and comprehensive," the project is not focused, resources are scattered, should put energy and resources into more basic, more innovative, more imaginative projects。From Liang Rubo's remarks, it can be seen that byte is examining its various businesses, "worthless" business lines will escape the "abandoned" ending.。

But in any case, Byte is still the most valuable unicorn in the world today.。The company's current valuation is about $268 billion, based on a recent estimate of the share buyback price proposed by Byte to its employees.。