507After years of overseas development, the name Tuke is surely familiar to everyone watching, and you also know that 2023 was a year full of ups and downs for Tuke's overseas business.
In fact, it's not just Tuke; global economic fluctuations and various unpredictable events have brought challenges to many companies, making development difficult. However, what sets Tuke apart is its remarkable resilience and innovation, which have led to impressive growth in performance.
According to the 2023 Global Mobile App Publisher Rankings released by data analytics agency data.ai, only seven companies worldwide had app products with annual revenues exceeding $1 billion. Among them,ByteDance ranked second globally in annual revenue.
ItsTuke's annual in-app purchase revenue reached $4 billion,with cumulative revenue surpassing $10 billion, making it the runner-up in the global non-game app in-app purchase revenue rankings, second only to Google's YouTube.
Tuke made it to the 2023 non-game app in-app purchase revenue rankings. Image source: dataai CN
But how long can this frenzy last?
According to reliable sources, ByteDance has begun transferring Tuke staff overseas, including to Singapore, Australia, Canada, and the United States, and has fully established an overseas business division.
The purpose of this move is nothing more than twofold: first, to better develop Tuke, and second, to facilitate compliance with local data regulations. After all, since 2020, Tuke has been investigated in the US, EU, Australia, and other regions for data security reasons. This is also part of operating in compliance globally.
Moreover, in 2023, Tuke's global downloads reached 1 billion, with cumulative downloads as high as 5.17 billion, firmly ranking first in global app downloads.
Such a huge revenue-generating cake is not something ByteDance will give up easily.
Tuke positions in China are being drastically reduced, and currently, most employees have accepted the transfer arrangements.
In addition to the significant growth in advertising revenue, Tuke's deep cultivation in the e-commerce sector has also contributed an important force to its revenue.
In the Southeast Asian market, Tuke Shop's total transaction volume (GMV) has exceeded $13 billion, with nearly $4 billion coming from the Indonesian market alone, accounting for more than 30%.
In the United States, since Tuke Shop officially launched last September, it has quickly made a mark in the market through a series of strategic adjustments. By the end of the year,the US region's single-day GMV reached $14 million, and soared to $30 million during Black Friday.
These achievements all confirm Tuke's potential in the e-commerce sector.
In addition, due to Indonesian policy, Tuke Shop was suspended in Indonesia for nearly two months in 2023, causing significant losses to Indonesian merchants on Tuke.
To re-enter the Indonesian market, Tuke spent $840 million to acquire a 75.01% stake in Indonesian e-commerce platform Tokopedia, officially merging with Tokopedia and continuing to expand the Indonesian e-commerce market under the name PT Tokopedia.
This series of major investments and strategic deployments by Tuke in the e-commerce sector not only reflects its high regard for e-commerce potential, but also signals its firm confidence in performance for the new year. Tuke Shop executives have even set a goal of achieving $50 billion GMV in 2024, showing their ambition for Tuke's future development.
As Tuke continues to optimize its business model and explore new growth points,we have reason to expect that Tuke will continue its frenzy and write a new growth legend in the global market.
In 2024, let's ride the waves and go global together.
