ByteDance to go public in Hong Kong:source

Tiger Newspress2021-04-14

ByteDance,the Chinese parent of hit video app TikTok,submitted the letter of appointment to the HKEx and started the listing process in Hong Kong,,according to people familiar with the matter.ByteDance Is said valued at about $400 billion.

ByteDance, famous for its short-video apps and news aggregator Toutiao,more than doubled revenue last year after expanding beyond its core advertising business into areas such as e-commerce and online gaming. It’s now weighing options for the initial public offering of some businesses.

During its last fundraising round, ByteDance reached a $180 billion valuation, according to a person with knowledge of the matter. That’s up from $20 billion about three years ago, according to CB Insights. But in the private market, some investors recently were asking for the equivalent of a $350 billion valuation to part with their shares, the people have said. Its value for private equity investors is approaching $400 billion, according to a report in the South China Morning Post. That would mean an even bigger fortune for Zhang.

ByteDance declined to comment.

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Comments

hellraider87
2021-04-14
hellraider87
Nice
ckh
2021-04-14
ckh
[財迷]
muscleman
2021-04-14
muscleman
Money rolling in
Ameliakoh
2021-04-14
Ameliakoh
Another counter for trading soon
Khoo12
2021-04-14
Khoo12
Good
ely27
2021-04-14
ely27
400b market cap !!!

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