Beijing time on July 21 news, in the context of IPO shelving and investors cashing out, the valuation of ByteDance in the private market in recent weeks has been well below $300 billion, down at least 25% from last year.
Investors have been buying shares in China’s largest startup at a valuation as low as $275 billion, people familiar with the matter said. Some potential buyers negotiated with sellers, at one point dropping the price to $280 billion, but gave up. Some investors have bids as low as $250 billion, but there is still a wide gap between the psychological price level of many potential buyers and sellers. ByteDance owns popular apps such as Douyin and TikTok.
By contrast, Tiger Global increased its stake in ByteDance last year at a mixed valuation of $460 billion, investor filings show. Tiger Global Fund has invested in ByteDance since 2018, valuing the company at $35 billion when it first invested in ByteDance. The stake is one of the top ten most profitable stocks in Tiger Global’s private equity fund, with realized and unrealized gains of more than $1.5 billion.
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