Budget 2018-19

  38-year-old Zhang Yiming, is among the world’s richest people — a distinction that lately has carried increased risks in China Just last year, the world’s most valuable startup, ByteDance Ltd., was being squeezed from all sides. The Trump administration wanted the Chinese firm, which owns the ubiquitous TikTok video-sharing platform, to get rid of assets. Beijing was cracking down on tech businesses, and India had blacklisted some of its social-media apps. For all the obstacles, ByteDance kept growing. Now its founder, 38-year-old Zhang Yiming, is among the world’s richest people — a distinction that lately has carried increased risks in China. Shares of the company trade in the private market at a valuation of more than $250 billion, people familiar with the dealings have said. At that level, Zhang, who owns about a quarter of  ByteDance , could be worth more than $60 billion, placing him alongside Tencent Holdings Ltd.’s Pony Ma, bottled-water king Zhong Shanshan and membe...

  With more than 58 million installs in March, TikTok became the most downloaded non-gaming app worldwide last month, said a new report With more than 58 million installs in March,  TikTok  became the most downloaded non-gaming app worldwide last month, said a new report. TikTok was followed by Facebook which became the second most installed non-gaming app worldwide for March with more than 56 million installs, showed the data from app analytics firm Sensor Tower. Instagram, WhatsApp and Messenger – all of which are part of the Facebook family of apps – rounded out the top five most installed non-gaming apps worldwide for the month. The countries with the largest number of TikTok installs were from Douyin in China at 11 per cent, followed by the US at 10 per cent, Sensor Tower said. The countries with the largest number of Facebook installs were from India at 25 per cent, followed by the US at 8 per cent. The other apps which made it to the top 10 in the overall list incl...