Founder of TikTok owner ByteDance tells employees to stay grounded and focused as company expands in size and value

📆 01/04/2021 01:21 م
📰 staronline

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ByteDance CEO Zhang Yiming told employees to keep an ‘ordinary mind’ and make decisions without worrying about growth goals as the company moves closer to an IPO. ByteDance’s valuation has surpassed that of Coca-Cola as it searches for new areas of growth, including gaming and education, while challenges overseas continue.

Zhang referred to several new products that have made progress in the past year, including gaming studio

Still, investors continue to have big hopes for the company. ByteDance’s shares are trading at a valuation of more than US$250bil in the secondary market, higher than Coca-Cola’s market cap of US$229bil , while Zhang weighs the options for an IPO, Bloomberg reported on Tuesday. Zhang said that he hopes the company will see rapid growth, but he added that it should not be affected by “growth anxiety”.

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