US-based global investment giant, General Atlantic, has valued the popular social media platform, TikTok’s parent company, Bytedance, at $550 billion as the company is now looking to sell equity stake owned in the Chinese firm, reported the news agency Reuters, citing people aware of the development. General Atlantic’s stake sale of ByteDance marks the first … Read more
The idea of Elon Musk as a potential buyer for TikTok may seem like the craziest development yet in the saga of the US government’s determination to ban the app. But it’s not as out-of-left-field as it sounds, and would carry its own potential harms.The world’s wealthiest man has long said he hopes to create … Read more
Shares of ByteDance Ltd., the Chinese parent of hit video app TikTok, are trading at a valuation of more than $250 billion in the secondary market, according to people familiar with the matter. The Beijing-based company’s value has surged in recent weeks as investors gain confidence in the business and founder Zhang Yiming weighs options … Read more