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ByteDance investors value TikTok at $50 billion in takeover bid

admin2周前 (07-31)cricket305

Some investors of TikTok’s parent company ByteDance seeking to take over the popular social media app are valuing it at about $50 billion, significantly more than peers such as Snap Inc, according to people familiar with the matter.

Beijing-based ByteDance is considering a range of options for TikTok amid pressure from the United States to relinquish control of the app, which allows users to create short videos with special effects and has become wildly popular with US teenagers. The app’s success has helped turn ByteDance into one of only a handful of truly global Chinese conglomerates.

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