TikTok increased its revenues to $177 million, according to new data from SensorTower.
The revenue boost represents a five-time increase over its 2018 revenues and that’s thanks to some 738 million downloads.
To date, the popular app made by China’s Bytedance has been downloaded 1.65 billion times.
It saw user growth jump 13% back in 2019.
The last quarter of 2019 was the company’s best quarter to date with 210 million installs – a 6% rise year-on-year.
Impressively, the app achieved this level of growth despite being banned in India in April 2019, a country that represents 44% of its installs.
China was the app’s second-largest market at 7% of downloads, followed by the US with 6% of downloads.
Q4 2019 was also an excellent year for user spending for TikTok with $88.5 million earned during the quarter.
Chinese users are the most liberal when it comes to spending in-app with $122.9 million spent by the country’s IOS users.