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ByteDance, the Chinese company behind TikTok, is now reportedly worth over $100 billion

ByteDance, the Chinese company behind TikTok, is now reportedly worth over $100 billion
Reuters



ByteDance, the parent company of internet sensation TikTok, has reportedly surpassed a $100 billion valuation.




Confidential sources told Bloomberg value of start-up has risen from $75 billion to over $100 billion over two years.




TikTok attracted more than 315 million new users in the first three months of 2020, according to analytics firm Sensor Tower.




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ByteDance, the Chinese company behind TikTok, is now worth more than $100 billion, according to a report from Bloomberg Wednesday.
Sources close to the matter who were not authorised to speak told Bloomberg that the value of the start-up has risen by more than a third from around $75 billion two years ago.
ByteDance's was reportedly in the very initial stages of considering an IPO abroad last year. But sources told Bloomberg that a float will depend on whether ByteDance remains well-funded.
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