ByteDance hits $425bn valuation on gray market


The valuation of TikTok’s parent ByteDance has hit $425 billion for new private equity investors, according to Chinese technology news portal 36Kr.

It shows, three listings of stakes for sale in ByteDance. The new high in ByteDance’s valuation was revealed by one investor whose shares are estimated at between $50 million and $100 million.

ByteDance had doubled its revenue in 2020 and touches to $34.3 billion, according to U.S. business news media CNBC. It posted $2.1 billion in operating losses and logged 1.9 billion users across its vast array of services, which include TikTok and Chinese twin Douyin, news aggregator Toutiao, video editor CapCu and enterprise services like Volcano Engine. 36Kr also listed a valuation of between $400 billion and $388.8 billion for the company.