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TikTok Owner ByteDance Eyes Hong Kong IPO – Nearing 2 Billion MAUs

August 11, 2021
Source: digitalmusicnews.com digitalmusicnews.com
News Snapshot:
TikTok owner ByteDance is considering going public next year with a Hong Kong IPO. The Chinese government has been increasingly cracking down on Big Tech in the country. But according to a report from the Financial Times, ByteDance is still planning its public IPO on the HK stock exchange. Back in July, the Wall Street Journal reported the company had shelved its IPO plans. Last year, ByteDance raised $5 billion from investors like Sequoia Capital and KKR & Co. It gave the Chinese company a valuation of around $180 billion. But China-based publication 36kr estimates ByteDance’s total valuation has soared...
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Tags: 36Kr | Alibaba | Antitrust | app | Beijing | ByteDance | China | Chinese | communism | communist | e-commerce | finance | Google | Hong Kong | ipo | online shopping | online video | search engine | smartphone | social media | Software | stock exchange | technology | Tencent | TikTok

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