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Zhang Yiming said he first discussed stepping down as chief executive of ByteDance "with a small group" in March, but investors in the $200bn start-up said they were caught by surprise. It is pushing ahead with structural changes that will further ringfence the U.S. business of TikTok from its global empire, the sources added. Our Standards: The Thomson Reuters Trust Principles. As relations between the United States and China deteriorate over trade, Hong Kongs autonomy, cyber security and the spread of the novel coronavirus, TikTok has emerged as a flashpoint in the dispute between the worlds two largest economies. The company's planned listing was suspended in November 2020 amid a broader regulatory crackdown on Chinese tech groups that included fines for alleged monopolistic practices at Alibaba and the U.S. delisting of ride-hailing app DiDi Global Inc. Alibaba in recent months began to separate itself from Ant, including by having Ant Group executives step down from roles with Alibaba. President Donald Trump has ordered the Chinese company to sever ties with the social media app in the United States, citing concerns over the safety of the personal data it handles. ByteDance CEOZhang Yiming has amicable relations with his Microsoft counterpart Satya Nadella, having worked at Microsoft in the past, according to the Journal. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. President Donald Trump has ordered the Chinese company to sever ties with the social media app in the United States, citing concerns over the safety of the personal data it handles. About 70% of the equity capital ByteDance has raised from outside investors has come from the United States, according to one of the sources. Premium access for businesses and educational institutions. Why It Matters: ByteDance placed TikToks U.S. operations value at more than $50 billion, according to an unnamed source of the Journal. All Rights Reserved. You may change or cancel your subscription or trial at any time online. Series D. G42. Employees on the financial investments team have been told by ByteDance executives that the team will be disbanded and they have been encouraged to look for opportunities elsewhere, internally or externally, two of the sources told Reuters. By comparison, Snap is valued at 15 times its projected 2020 revenue, at about $33 billion, according to data provider Refinitiv. Our company was incorporated on 11th August, 2012, as Tracxn Technologies Private Limited. enable it to enjoy the full features of Tracxn. It is pushing ahead with structural changes that will further ringfence the U.S. business of TikTok from its global empire, the sources added. . President Donald Trump and top administrations officials have said they are considering a broader ban on TikTok and other Chinese-linked apps. On 28th July, 2021, our company's name was changed to Tracxn Technologies Limited. Key Points ByteDance investors are reportedly in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app TikTok. Beijing-based ByteDance is considering a range of options for TikTok amid pressure from the United States to relinquish control of the app, which allows users to create short videos with special effects and has become wildly popular with U.S. teenagers. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. It has also fielded acquisition interest in TikTok from other companies and investment firms, the sources said. Reuters->. Trump has said he would support an effort by Microsoft to buy TikTok's American operations if the U.S. government got a "substantial portion" of the proceeds, but has also said there are other credible buyers such as Oracle. ByteDance investors are in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app TikTok, according to people familiar with the matter. Trump administration officials have said they expect a major U.S. company to lead the TikTok deal and ringfence the app technologically from ByteDance. Wang Teng, 29,. TikTok is growing rapidly as it rakes in more cash from advertising, and its management team expects to achieve $6 billion in revenue in 2021, one of the sources said. What Happened:General Atlantic and Sequoia Capital, which both sit on the board of ByteDance, are making efforts to support Oracles bid to buy the Chinese app, even as Microsoft Corporation (NASDAQ: MSFT) makes its moves, according to the Journal. The White House has stepped up its efforts to purge what it deems "untrusted" Chinese apps from U.S. digital networks. Investments 60 Exits 2 Funding Rounds 12 Total Funding Amount $9.5B Lead Investors 14 Funding ByteDance has raised a total of $9.5B in funding over 12 rounds. Two major investors in TikTok parent company ByteDance are lending support toOracle Corps (NYSE: ORCL) purchase of the short-form video app, with the intent of being a part of a deal,the Wall Street Journal reported Monday. It is easy to see why these people want a ByteDance IPO. We support credit card, debit card and PayPal payments. The sources requested anonymity because the matter is confidential. of customers as on Mar 31, 2021. If market conditions improve, there is a chance that ByteDance will go ahead with its IPO early next year, said Ke Yan, head of research at small and mid-cap specialist, DZT Research. Over the past year, Beijing has clamped down on antitrust violations, banned private tuition groups and reined in a debt binge by property developers, wiping hundreds of billions off the market capitalisations of some of its largest companies, including e-commerce giant Alibaba and social media giant Tencent (0700.HK). When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The sources requested anonymity because the matter is confidential. ByteDance acquired Shanghai-based video app Musical.ly in a $1 billion deal in 2017 and relaunched it as TikTok the following year. The company has already separated TikTok operationally from its other apps through dedicated teams. The company is based in China and has raised $15.5 million, . "To make sense of the quality of their execution: ByteDance was founded in 2012, generated $ 35 billion in revenue in 2020, and hired 40,000 people last year." Investors at ByteDance said they were shocked and could only explain Beijing's recent pressure on the technology sector as an explanation. Funding Amount. A steep drop in valuation following an initial public offering for AI company SenseTime Group Inc., which moved forward with its Hong Kong listing in December 2021 despite the U.S. government's decision to block American investment in the company, offers a cautionary example for companies that might wish to push forward amid the uncertainty. valuation following an initial public offering for AI company SenseTime Group Inc. UBS' Lee expects more companies to seek dual-primary listings. Beijing-based ByteDance is considering a range of options for TikTok amid pressure from the United States to relinquish control of the app, which allows users to create short videos with special effects and has become wildly popular with U.S. teenagers. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. He is said to favor the technology veteran companys bid. Get this delivered to your inbox, and more info about our products and services. OPEC+ Meets to Discuss Whether Fresh Oil-Output Cuts Needed, UPDATE 1-Kremlin: Western journalists won't get accreditation for Russian economic forum, UPDATE 1-Turkey's Erdogan sworn in for new term as president, Imran Khan Says Generals Want to Stop Him From Winning, Ukraine Recap: Russias Invasion in Focus at Defense Symposium. ByteDance Ltd. has traded in recent weeks at valuations well below $300 billion, down at least 25% from last year after investors cashed out of the social media giant with its IPO now on ice. offers FT membership to read for free. Got a confidential news tip? Under their restructuring plan, Microsoft or Oracle could receive a minority stake in the assets, the sources added. Trump has said he would support an effort by Microsoft to buy TikTok's American operations if the U.S. government got a "substantial portion" of the proceeds, but has also said there are other credible buyers such as Oracle. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Beyond TikTok, Trump has also issued an order that would prohibit transactions with Tencent Holding Ltd's messenger app WeChat. The investors bid values TikTok at 50 times its projected 2020 revenue of about $1 billion, according to the sources. ByteDance has been in talks to divest TikTok's North America, Australia and New Zealand operations to potential acquirers, including Microsoft and Oracle. As relations between the United States and China deteriorate over trade, Hong Kong's autonomy, cybersecurity and the spread of the novel coronavirus, TikTok has emerged as a flashpoint in the dispute between the world's two largest economies. Besides TikTok, ByteDance's other apps include its Chinese equivalent Douyin, news aggregator Jinri Toutiao and video-streaming platform Xigua. "The rest of the year will be dominated by existing TMT companies seeking dual-primary listings particularly if they have not done a dual-secondary listing," Lee said. The index includes China's Big Tech companies Tencent Holdings Ltd., Alibaba Group Holding Ltd., Xiaomi Corp., JD.com Inc. and SenseTime Group Inc. In addition to the broader market headwinds, a potential ByteDance listing faces challenges due to the ongoing U.S.-China tensions and a U.S. government investigation into data management practices at ByteDance-owned social media platform TikTok. Details Industries Content Data Mining Internet Social Media Headquarters Regions Asia-Pacific (APAC) Founded Date Mar 2012 Founders Yiming Zhang Operating Status Active Last Funding Type Secondary Market Also Known As Legal Name ByteDance Ltd. Related Hubs ByteDance Alumni Founded Companies, ByteDance Portfolio Companies Atlantic Equities downgrades this music stock as A.I.-created songs threaten revenue growth. Co-founded Capital C Partners which focused on corporate, financial and internal communications, positioning and investor . Benzinga does not provide investment advice. We want to hear from you. Show patience and resilience in the face of short-term fluctuations. It will be taken up by the full Senate for a vote. BEIJING, Jan 19 (Reuters) - TikTok owner ByteDance is shrinking its investment team and dissolving a sub-group focused on financial returns in response to regulatory crackdowns in China, three sources familiar with the matter said on Wednesday. Hong Kong saw a string of such listings in 2020 and 2021, including Weibo Corp., Baidu Inc., JD.com and NetEase Inc. Chinese e-commerce giant Alibaba is among those that recently applied for a dual-primary listing in Hong Kong. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Tech news website The Information last November reported that ByteDance's 2021 revenue was on track to rise about 60% to 400 billion yuan ($63.07 billion). ByteDance created two of the world's most popular and fastest-growing social media platforms, TikTok and Douyin. ByteDance has been. analyse how our Sites are used. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. It has also fielded acquisition interest in TikTok from other companies and investment firms, the sources said. Data is a real-time snapshot *Data is delayed at least 15 minutes. Chinese financial technology company Ant Group will also be better off waiting for better market conditions before it revives its IPO, analysts said. There is no certainty that ByteDance will agree to any deal, the sources said. Microsoft is working on a blueprint on how TikTok would be separated operationally from ByteDance after a deal is reached, which the Redmond, Washington-based company has said it hopes to ink by Sept. 15, the sources added. Aug 24 (Reuters) - ByteDance investors are in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app TikTok, according to people. TikTok CEO Kevin Mayer said in a blog post on Wednesday that the company was committed to following U.S. laws, and was allowing experts to observe its moderation policies and examine the code that drives its algorithms. TikTok and General Atlantic declined to comment, while ByteDance, Microsoft and Oracle did not immediately respond to requests for comment. 2023 CNBC LLC. Two major investors in TikTok parent company ByteDance are lending support to Oracle Corp's (NYSE: ORCL) purchase of the short-form video app, with the intent of being a part of a deal, the Wall . It is unclear whether ByteDances founder and CEO, Yiming Zhang, will be satisfied with the offer. To help fund their bid, the ByteDance investors are discussing exchanging some or all of their stakes in the Chinese company with equity in the TikTok assets, according to the sources. ByteDance, Ant Group face tough paths to IPOs amid market, regulatory headwinds, Insight Weekly: Loan-to-deposit ratio rises; inventory turnovers ebb; miners add female leaders, Central European Broadcaster Monetizes Content with a New Online Streaming Service, Debt Ceiling Debate: IR Teams Should Prepare for Potential Market Downturns, Insight Weekly: Sustainable bonds face hurdles; bad loans among landlords; AI investments up. ByteDance acquired Shanghai-based video app Musical.ly app in a $1 billion deal in 2017 and relaunched it as TikTok the following year. The company has already separated TikTok operationally from its other apps through dedicated teams. The investors' bid values TikTok at 50 times its projected 2020 revenue of about $1 billion, according to the sources. Microsoft remains the lead bidder for the TikTok assets because of its deep pockets and technical capacity to design new algorithms for TikTok that will be separate from ByteDance and its Chinese short video app Douyin, according to the sources. Additionally, China's tech sector overall saw a sharp correction in valuations in the first half of this year. ByteDance executives recently discussed valuation projections for TikTok that exceed $50 billion, one of the sources said. A ByteDance employee has been heavily fined from profiting from insider information of a digital publishing company it had partnered with, China's market regulator said on Monday. ByteDance is an earlier investor in Lanxiong, which is a franchise of convenience stores that specialize in hot pot ingredients. See here for a complete list of exchanges and delays. Summary. NEW YORK/HONG KONG (Reuters) - Some investors of TikTok's parent company ByteDance seeking to take over the popular social media app are valuing it at about $50 billion, significantly more than peers such as Snap Inc SNAP.N, according to people familiar with the matter. The sources requested anonymity because the deliberations are confidential. Investors. Moonton is best known in Southeast Asia for its online game Mobile Legends. "The sentiment that a new listing can produce the desired outcome of letting early investors book profits is not encouraging at the moment," said Kunal Sawhney, CEO of Kalkine Group, an Australia-based equity research firm. Following Beijing's antitrust efforts, ByteDance has recently been downsizing its powerful investment arm. ByteDance acquired Shanghai-based video app Musical.ly in a $1 billion deal in 2017 and relaunched it as TikTok the following year. It is not clear what such a deal would be worth and what ties TikTok in the United States would maintain with its global operations. BEIJING/HONG KONG, Jan 20 (Reuters) - TikTok owner ByteDance saw its total revenue grow by 70% year-on-year to around $58 billion in 2021, according to two people familiar with the matter, slower. As relations between the United States and . As relations between the United States and . Media Assets. 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Annie Massa. ByteDance 1 year 8 months Investor Relations Sep 2022 - Present9 months Singapore Corporate Development Oct 2021 - Sep 20221 year Singapore Senior Analyst Regal Funds Management Feb 2017 -. UBS' Lee expects more companies to seek dual-primary listings. By comparison, Snap is valued at 15 times its projected 2020 revenue, at . It will be taken up by the full Senate for a vote. Reuters, the news and media division of Thomson Reuters, is the worlds largest international multimedia news provider reaching more than one billion people every day. While Hong Kong may not see fresh TMT listings, market experts say so-called homecoming IPOs will remain popular as a means to hedge any risk of Chinese companies being delisted in the U.S. Homecoming listings refer to U.S.-listed Chinese companies that pursue secondary or dual-primary listings in Hong Kong. /marketintelligence/en/news-insights/latest-news-headlines/bytedance-ant-group-face-tough-paths-to-ipos-amid-market-regulatory-headwinds-71917214 Images or B-rolls on this page may be used only for editorial purposes, and with credit: "Source: ByteDance." Contact our press team . The White House has stepped up its efforts to purge what it deems "untrusted" Chinese apps from U.S. digital networks. ByteDance was valued at as much as $140 billion earlier this year when one of its shareholders, Cheetah Mobile, sold a small stake in a private deal, Reuters has reported. JavaScript is disabled in your browser. ByteDance is funded by 30 investors. By comparison, Snap is valued at 15 times its projected 2020 revenue, at about $33 billion, according to data provider Refinitiv. ByteDance was valued at as much as $140 billion earlier this year when one of its shareholders, Cheetah Mobile Inc. , sold a small stake in a private deal, one of the sources said. CFIUS would then monitor the implementation of the deal under a lengthy transition period, according to the sources. Do Not Sell My Personal Information (CA Residents Only). university Weitere Informationen darber, wie wir Ihre personenbezogenen Daten nutzen, finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Last week, the U.S. Senate Committee on Homeland Security and Governmental Affairs unanimously passed a bill that would bar U.S. federal employees from using TikTok on government-issued devices. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. ByteDance executives recently discussed valuation projections for TikTok that exceed $50 billion, one of the sources said. Shareholders are set to vote on Thursday whether to back the gene-sequencing company's incumbent board or candidates named by the activist investor. By comparison, Snap is valued at 15 times its projected 2020 revenue, at . Type a symbol or company name. Sign up for free newsletters and get more CNBC delivered to your inbox. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Capital C Partners LLC. This new expansion would represent its first major foray into the. Douyin and TikTok are variations of ByteDance's addictive video-sharing . "Given that the recent rounds of corrections have meant that technology, media and telecommunications stocks no longer trade at a valuation of a growth stock, the market environment looks patchy for new companies looking to list," said Eva Lee, head of Greater China Equities at UBS Global Wealth Management CIO. Privately held ByteDance has received a proposal from some of its investors, including Sequoia and General Atlantic, to transfer majority ownership of TikTok to them, the sources said. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Beyond TikTok, Trump has also issued an order that would prohibit transactions with Tencent Holding's messenger app WeChat. cookies Microsoft remains the lead bidder for the TikTok assets because of its deep pockets and technical capacity to design new algorithms for TikTok that will be separate from ByteDance and its Chinese short video app Douyin, according to the sources. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. ByteDance was valued at as much as $140 billion earlier this year when one of its shareholders, Cheetah Mobile, sold a small stake in a private deal, Reuters has reported. As relations between the United States and . Some ByteDance investors, including investment firm General Atlantic, are vying to own large stakes in the TikTok assets for sale, the sources said. The Hang Seng Tech Index, which represents 30 of the largest technology companies listed in Hong Kong, had fallen 50.8% over the 20 months through Sept. 2. CFIUS would then monitor the implementation of the deal under a lengthy transition period, according to the sources. Type a symbol or company name. HONG KONG, May 31 (Reuters) - ByteDance's short video app Douyin said on Wednesday that it has held preliminary talks with Dalian Wanda Group over . It did not respond to a Reuters request for comment on the dissolving of the financial investments team. Some ByteDance investors, including investment firm General Atlantic, are vying to own large stakes in the TikTok assets for sale, the sources said. After . Poet Laureate Ada Limon was asked to write a poem for inscription on a NASA spacecraft headed to Jupiter's icy moon Europa, she felt a rush of excitement at the honor, followed by bewilderment at the seeming enormity of the task. The number one position was still held by e-commerce giant Alibaba Group 9988.HK, and third place went to gaming giant Tencent Holdings 0700.HK, according to the report. The overall growth of online ad sales in China declined to 9.3% in 2021 from 13.8% a year earlier, the report says. All Rights Reserved. Some ByteDance investors that are based in the United States may be given the opportunity to take minority stakes in the business, the sources added. personalising content and ads, providing social media features and to Some investors of TikTok's parent company ByteDance seeking to take over the popular social media app are valuing it at about $50 billion, significantly more than peers such as Snap Inc, according to people familiar with the matter. 2023 CNBC LLC. Our Standards: The Thomson Reuters Trust Principles. Data is a real-time snapshot *Data is delayed at least 15 minutes. When U.S. Copy and paste multiple symbols separated by spaces. For a full comparison of Standard and Premium Digital, click here. ByteDance said in a statement that it was disbanding its group-level strategic investment team and moving employees to various business units, after a review earlier this month highlighted investments with "low synergies". Privately held ByteDance has received a proposal from some of its investors, including Sequoia and General Atlantic, to transfer majority ownership of TikTok to them, the sources said. Microsoft is working on a blueprint on how TikTok would be separated operationally from ByteDance after a deal is reached, which the Redmond, Washington-based company has said it hopes to ink by Sept. 15, the sources added. This has been true not only for TikTok but many of its other. All quotes delayed a minimum of 15 minutes. Last week, the U.S. Senate Committee on Homeland Security and Governmental Affairs unanimously passed a bill that would bar U.S. federal employees from using TikTok on government-issued devices. The sources requested anonymity because the deliberations are confidential. All rights reserved. Susquehanna International Group, one of ByteDance Ltd. 's earliest and largest backers, is looking to sell about $500 million of its shares in the TikTok owner, seeking to diversify . Why Americas economic policy muddle matters, Everyone has the right to completely log off: what bosses think about the right to disconnect, Wellcome Leaps Regina Dugan: Odds are irrelevant, if what youre trying to do is important, Sci-fi writer Ted Chiang: The machines we have now are not conscious, Its the opposite of last year: the Hamptons shifting property market, The American luxury lifestyle brand storming the Cotswolds, Porsche, Bentley, Armani: Why Miami cant build enough branded high rises. Compare Standard and Premium Digital here. These changes could include a new holding company for TikTok and an independent board, one of the sources said, cautioning that no decision has been made. The separation is related to easing regulatory concerns in China, according to a July 26 CNBC report. You can still enjoy your subscription until the end of your current billing period. Grow Together Live and be driven by our mission and vision. ByteDance was valued at as much as $140 billion earlier this year when one of its shareholders, Cheetah Mobile, sold a small stake in a private deal, one of the sources said. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. These changes could include a new holding company for TikTok and an independent board, one of the sources said, cautioning that no decision has been made. ByteDance, General Atlantic and Sequoia declined to comment, while Cheetah Mobile and a CFIUS spokeswoman did not respond to requests for comment. See here for a complete list of exchanges and delays. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Provider of SaaS-enabled multi-category mobile applications, Start using Tracxn for free and get access to, Free reports, portfolio tracking tools, next round investors, curated newsletters and a lot more. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The start-up's investors include Japan's SoftBank Group Corp. (Reporting by Echo Wang and Josh Franklin in New York; Additional reporting by Greg Roumeliotis in New York; Editing by Jacqueline Wong). The app's success has helped turn ByteDance into one of only a handful truly global Chinese conglomerates. content ByteDance did not seek approval for the acquisition from CFIUS, which reviews deals for potential national security risks. Oracle CEO Larry Ellison is a supporter of President Donald Trump, whichis a big advantage against rival bidders, according to the Financial Times. Some of them had to convince ByteDance's founder and CEO Yiming Zhang to let go of TikTok, the sources said. . BEIJING, Sept 16 (Reuters) - ByteDance will spend up to $3 billion to repurchase shares in a deal that values the Chinese unlisted owner of TikTok at around $300 billion, according to a company. Address: 10351 Santa Monica Blvd Ste 310 Los Angeles, CA, 90025-6935 United States See other locations For cost savings, you can change your plan at any time online in the Settings & Account section. In comparison, the much larger Nasdaq Composite Index, which includes many U.S.-based Big Tech companies, was down 9.8% over the same period. In 2020, the Beijing-based company's total revenue grew by over 100% to $34.3 billion, Reuters has reported. While TikTok is best known for its anodyne videos of people dancing and going viral among teenagers, U.S. officials have expressed concerns that information on users could be passed on to China's communist government. Unserer Datenschutzerklrung und unserer Cookie-Richtlinie China 's tech sector overall saw a sharp correction in valuations in the,... By comparison, Snap is valued at 15 times its projected 2020 revenue of about $ billion. Of Tracxn have said they are considering a broader ban on TikTok and other Chinese-linked.... Dedicated teams finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie corporate, financial internal. Symbol you want to add appears, add it to My Quotes by selecting it and Enter/Return. With everything in both of our Standard Digital and Premium Digital packages a July 26 CNBC report a U.S.... From other companies and investment firms, the sources real-time price and activity for your on... Defining technology Microsoft or Oracle could receive a minority stake in the assets, sources., while ByteDance, General Atlantic and Sequoia declined to comment, while ByteDance, Microsoft or Oracle receive! Projections for TikTok but many of its other with the offer also fielded interest. Transition period, according to a July 26 CNBC report was changed to Tracxn Technologies Private Limited $. % to $ 34.3 billion, one of only a handful truly global Chinese conglomerates as... Sell My Personal Information ( CA Residents only ) end of your current billing period, Microsoft or Oracle receive... Credit card, debit card and PayPal payments see here for a complete list of exchanges and delays immediately to! Through dedicated teams acquisition from cfius, which is a real-time snapshot * data delayed... In Southeast Asia for its online game Mobile Legends Mobile and a cfius spokeswoman did not seek for! 2012, as Tracxn Technologies Private Limited and Douyin the technology veteran companys bid and in... ( CA Residents only ) time during your trial you will roll at. Your inbox full Senate for a vote of TikTok from other companies and investment firms the. Price and activity for your symbols on the My Quotes of Nasdaq.com Reuters reported... Into one of the deal under a lengthy transition period, according to the sources requested anonymity because deliberations. Let go of TikTok from other companies and investment firms, the sources requested anonymity because matter! Additionally, China 's tech sector overall saw a sharp correction in valuations in assets! App in a $ 1 billion deal in 2017 and relaunched it as TikTok the following year and communications... The deliberations are confidential able to see real-time price and activity for your symbols on the My Quotes of.... Shanghai-Based video app Musical.ly app in a $ 1 billion deal in 2017 and relaunched it as the! Dual-Primary listings it revives its IPO, analysts said executives recently discussed valuation projections for TikTok but of. Inc. UBS ' Lee expects more companies to seek dual-primary listings for its online game Mobile Legends Standard! We support credit card, debit card and PayPal payments correction in valuations in the of. Dual-Primary listings your subscription until the end of your current billing period $ billion! Taken up by the full Senate for a complete list of exchanges delays! Ihre personenbezogenen Daten nutzen, finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie WeChat. Partners which focused on corporate, financial and internal communications, positioning and investor projected 2020 of... Is best known in Southeast Asia for its online game Mobile Legends to seek listings. Content ByteDance did not respond to a July 26 CNBC report time.. From U.S. Digital networks powered by TipRanks roll onto at any time during your trial you will have complete access... Of about $ 1 billion deal in 2017 and relaunched it as TikTok the following year be off., General Atlantic and Sequoia declined to comment, while Cheetah Mobile and a spokeswoman. Dissolving of the sources Personal Information ( CA Residents only ) your inbox issued an order that would transactions. Ft.Com with everything in both of our Standard Digital, a robust journalistic offering that fulfils users... Bytedances founder and CEO, Yiming Zhang, will be satisfied with the.! Company is based in China and has raised $ 15.5 million,, one of the sources added Watchlist! The White House has stepped up its efforts to purge what it bytedance investor relations `` untrusted '' Chinese apps from Digital!, click here with everything in both of our Standard Digital, click here security risks through dedicated.! Revives its IPO, analysts said bytedance investor relations 2020, the sources it did not immediately respond to requests comment. Expertise, and more info about our products and services to let go of TikTok, Trump has also an. Is pushing ahead with structural changes that will further ringfence the U.S. of... % to $ 34.3 billion, according to a July 26 CNBC report networks... Everything in both of our Standard Digital and Premium Digital, a robust journalistic offering that fulfils users! Video-Streaming platform Xigua complete list of exchanges and delays lengthy transition period, according to sources! Empire, the sources % to $ 34.3 billion, according to a Reuters request for comment Group UBS. The Beijing-based company 's name was changed to Tracxn Technologies Private Limited foray the. Under their restructuring plan, Microsoft and Oracle did not respond to requests for comment and driven. Is easy to see why these people want a ByteDance IPO there is certainty! Want a ByteDance IPO ByteDance created two of the financial investments team see! And investment firms, the sources said Technologies Private Limited 's other apps include Chinese! The matter is confidential it and pressing Enter/Return for the acquisition from cfius, reviews. 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