BEIJING: The valuation of ByteDance has hit US$425 billion for new private equity investors, according to Chinese technology news portal 36Kr.
ByteDance had a banner year in 2020 and more than doubled revenue to US$34.3 billion, according to US business news media CNBC. The company also has businesses in education technology and video games. 36Kr also listed a valuation of between US$400 billion and US$388.8 billion for the company. The company’s ballooning value reflects its status as one of the few Chinese tech companies to find success beyond the Great Firewall.
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