ByteDance, the owner of the Tik Tok application, can reach a value of $ 75 billion
Chinese ByteDance, the owner of the popular video sharing app Tik Tok, can be the world's largest startup. According to Bloomberg, the company can reach a value of $ 75 billion. Although the concept of Startup is not a definite definition on which it is agreed; The companies, which have just started operations, are established to test / market a new idea, are fast growing and not reaching the traditional company structure. When these attributes are stretched, we see that initiatives such as SpaceX, Uber, DropBox, Airbnb and Pinterest are included in the startup concept. Travel sharing application Uber is currently the world's most valuable startup with a market value of $ 72 billion, but the company may soon lose that title. Opened to the world with Tik Tok According to Bloomberg, Japanese technology giant Softbank, US investment company KKR and startups are known for their investments in the US company General Atlantic, China startup ByteDance'ye trying to make him the world's most valuable startup'i trying to. ByteDance name is not heard much outside Asia, but the applications developed by this company are used by millions of people around the world. The company's two most popular applications are the video sharing application Tik Tok and the news platform Toutiao, which has over 100 million users. Of course, ByteDance is in a different position, although there are a lot of startups in China with a high market value. Almost all of the valuable startups in China have received financial support from Tencent or Alibaba, the two largest internet companies in the country. ByteDance has not received investment from these two companies. The company, which broadcasts its video sharing application under the name of Douyin in China, under the name of Tik Tok, reported that it reached 500 million active users in July. At the beginning of August, Tik Tok was joined under the roof of ByteDance with Musical.ly, another video sharing application with 100 million active users per month. Can reach $ 75 billion Although Softbank, KKR and General Atlantic have not made a statement, Bloomberg will invest in ByteDance in large quantities, according to sources close to the issue. Softbank will initially invest $ 1.5 billion in the first place, but it is not yet known how much this minimum amount will increase at the end of the investment round. With the investment made by the other two companies, ByteDance is expected to reach the market value of $ 75 billion, leaving the Uber behind and becoming the most valuable startup in the world. Although the current value of ByteDance is not known clearly, the company closed the investment tour last year with a valuation of $ 20 billion.