ByteDance, the owner of the Tik Tok application, can reach a value of $ 75 billion
ByteDance, Tik Tok's parent company, may surpass Uber as the world's most valuable startup, potentially reaching a $75 billion valuation.
ByteDance: On Track to Become the World's Most Valuable Startup
The owner of the popular video-sharing app Tik Tok, ByteDance, is positioned to potentially become the world's largest startup, with an estimated value of $75 billion, as reported by Bloomberg.
Currently, the most valuable startup title is held by the ride-sharing app Uber, valued at $72 billion. However, ByteDance, with its rising popularity in Asia and globally, especially through Tik Tok and the news platform Toutiao, is a strong contender.
Unlike many high-value startups in China that have financial backing from Tencent or Alibaba, ByteDance stands out as it has not received investments from these two giants. With recent interests from investors like Softbank, KKR, and General Atlantic, ByteDance's market value could significantly increase.
Douyin, the local version of Tik Tok in China, along with its global counterpart, reported 500 million active users in July. The recent merge with Musical.ly, another video-sharing app, strengthens its market position.