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TikTok owner’s value surpasses $100 billion
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ByteDance Ltd.’s valuation has risen at least a third to more than $100 billion in recent private share transactions, people familiar with the matter said, reflecting expectations the owner of video phenom TikTok will keep pulling in advertisers despite the Covid-19 pandemic.
Stock in the world’s most valuable startup has changed hands recently at a price that suggests its value has risen more than 33% from about $75 billion during a major round of funding two years ago, the people said, requesting not to be named because the issue isn’t public.
Some of those transactions valued the Chinese company at as much as $140 billion, one person said. The trades are private transactions and may not fully reflect broader investor expectations.
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