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ByteDance investors value TikTok at $50 bn in takeover bid: Sources

WorldNews Wednesday, 29 July 2020
ByteDance investors value TikTok at $50 bn in takeover bid: SourcesNEW YORK/HONG KONG: 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. 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. The app's success has helped turn ByteDance into one of only a handful of truly global Chinese conglomerates. The Committee on Foreign Investment in the United States (CFIUS), a U.S. government...
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Video Credit: Reuters Studio - Published
News video: TikTok owner discussing China IPO - sources

TikTok owner discussing China IPO - sources 01:27

TikTok-owner ByteDance may list its Chinese operations in Hong Kong or Shanghai, according to Reuters sources. That after tensions with Washington scuppered earlier hopes for a blockbuster New York listing. Julian Satterthwaite reports

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