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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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Comment50

  • hellraider87
    ·2021-04-14
    Nice
    Reply
    Report
  • ckh
    ·2021-04-14
    [財迷] 
    Reply
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  • muscleman
    ·2021-04-14
    Money rolling in
    Reply
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  • Ameliakoh
    ·2021-04-14
    Another counter for trading soon
    Reply
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  • Khoo12
    ·2021-04-14
    Good
    Reply
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  • ely27
    ·2021-04-14
    400b market cap !!!
    Reply
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  • _JC
    ·2021-04-14
    Nice! 
    Reply
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  • JohnL
    ·2021-04-14
    Good stuff. Looking forward
    Reply
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  • Targarean
    ·2021-04-14
    Lol...no way! $400b?!
    Reply
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  • jc0110
    ·2021-04-14
    Pls comment
    Reply
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    Fold Replies
    • QQXTZ
      Nice
      2021-04-14
      Reply
      Report
  • Soarrr
    ·2021-04-14
    Can’t wait
    Reply
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  • NGZIHENG
    ·2021-04-14
    money
    Reply
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  • NGZIHENG
    ·2021-04-14
    when will it be listed?
    Reply
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  • Shifeng
    ·2021-04-14
    Rumours ? Let’s see. 
    Reply
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  • HoSayBo
    ·2021-04-14
    Pls help to like. Thanks!
    Reply
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  • DesmondChin
    ·2021-04-14
    Don't overgrow, you could get too much attention fron the authorities
    Reply
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  • Hongkong gogogo
    Reply
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  • Zac1993
    ·2021-04-14
    Cool
    Reply
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  • Xrealm
    ·2021-04-14
    Like
    Reply
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  • BuzzyBee3
    ·2021-04-14
    When will it be listed?
    Reply
    Report
 
 
 
 

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