ByteDance, parent company of TikTok is utilizing whatever freedoms they’ve obtained recently while they last. An inside source claims that ByteDance is presently conversing with various investors with the intention of boosting the valuation of the company to up to $180 billion USD.
ByteDance’s talks with investors are allegedly in regards to a cash infusion of $2 billion USD, followed by the company’s other businesses located in Hong Kong, China. The initial fundraising is claimed to be funded by Sequoia, in addition to other companies, providing a rather large boost to the prior valuation of ByteDance which was $140 billion USD, making ByteDance the world’s most valuable startup.
In China, ByteDance’s signature app service Douyin has boasts 600 million daily active users as opposed to ByteDance’s 100 million+ daily active users of TikTok in America. This allows ByteDance to take on 10,000+ more staffers locally.
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