The person, who was briefed on the matter, said the value of the Beijing-based start-up has been swelling in the private market as it considers a public listing for TikTok’s Chinese sibling app Douyin.ĭo you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.īyteDance, which celebrated its ninth anniversary in March, has also been offering to buy back stock options from departing employees at a discount that put its value at US$270 billion, a second source said.īased on the internal buy-back offer, a third person put the company’s discounted value higher at nearly US$300 billion, saying that the value has been boosted by the feverish performance of ByteDance’s smaller rival Kuaishou Technology on the Hong Kong stock market since its February debut. Investors in Bytedance include Sequoia Capital and KKR & Co.
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The new valuation of nearly US$400 billion, if confirmed, almost triples ByteDance’s US$140 billion valuation after its series C fundraising in March 2020, according to data from analytics firm CB Insights. The valuation of ByteDance is approaching US$400 billion for private-equity investors, a source told the South China Morning Post, as the Chinese owner of short video-sharing app TikTok cements its leading position among global tech unicorns.
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