Sources say revenue soared to $29 billion in the second quarter, approaching Meta.

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com, Nov. 14 (Xinhua)-- Byte Jump is narrowing the revenue gap with Facebook parent company Meta, according to Theinformation, whose advertising and e-commerce revenues are growing sharply.

According to people familiar with the matter, byte jump's second-quarter revenue rose more than 40% from a year earlier to $29 billion (CTOnews.com note: currently about 211.41 billion yuan). The growth rate was much higher than that of other advertising-led internet companies, including Meta, whose revenue rose 11% to $32 billion over the same period.

Revenue from byte jump in the first half of 2023 was about $54 billion, the report said.

On November 8th, byte jump started the second round of employee option buybacks this year. The price is $160 a share before tax, up 3% from $155 a share in the previous round. The pre-tax repurchase price for former employees is $128 per share and that for current employees is $160 per share.