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    Times Square helps launch Light the World Giving Machine campaign

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    How the real estate office powers Pittsburgh District’s federal lands mission > Pittsburgh District > News Stories

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Squarespace founder is the latest billionaire, set to make $3bn from listing his company

April 21, 2021
Reading Time:2 mins read
Squarespace founder is the latest billionaire, set to make $3bn from listing his company

TikTok a video sharing app was named the most downloaded app of the first quarter of 2021 but not much is known about its founder. The app now has over 689 million active users worldwide according to statistics from oberlo.com. It has also been downloaded over 2 billion times on App Store and Google Playstore. It is arguably the most popular video-sharing app out there and the numbers keep growing.

TikTok was able to grow at a faster rate than Facebook and Instagram since its startup. The man behind this massive success is currently worth $35.5 billion and he is our person of interest today.

READ: TikTok to relocate headquarters to London following approval by UK ministers

Meet Zhang Yiming, the founder of Bytedance 

38-year-old Zhang Yiming is the CEO and Founder of ByteDance, the parent company of TikTok. Zhang Yiming majored in microelectronics and software engineering at Nankai University. He worked for various tech startups including Microsoft before settling to start his own company.

The billionaire leads a very secretive lifestyle. He founded ByteDance back in 2012 and steered it all the way to financial success. He is currently worth $35.5 billion but his net worth is well on its way to doubling based on recent valuations.

ByteDance has two main flagship products – Toutiao, an AI-backed news aggregator and TikTok which he founded later after the success of Toutiao.

READ: US government to ban WeChat and TikTok from app stores

Revisiting the success of  TikTok 

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