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TikTok Owner ByteDance Plans Hong Kong IPO (Report)

News Snapshot:

After shelving tentative plans for an initial public offering on the New York Stock Exchange in April, TikTok owner ByteDance is reportedly eyeing a Hong Kong debut. The Beijing-based tech giant plans to list on the Hong Kong market in the fourth quarter of 2021 or early 2022, people familiar with the matter told The Financial Times . ByteDance was founded in 2012 by entrepreneur Zhang Yiming, who left the company in May . Over the past nine years, it has raised nearly $10 billion in funding, with its most recent round, a $5 billion raise in December 2020, valuing…

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