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ByteDance valuation under huge pressure as TikTok sale nears

As it reached an estimated valuation of $100 billion this year, TikTok’s parent company ByteDance solidified its status as the most valuable startup in private markets. Its success outside China has also become a source of envy and inspiration among its local peers.
Now, the company’s price tag is under tremendous pressure as it’s set to shed its prized asset TikTok, several investors told TechCrunch.
ByteDance last year generated 120 billion yuan ($17.2 billion) in revenue, said an investor with knowledge of the matter. Around 67% was derived from ads sold on its domestic apps Douyin, TikTok’s Chinese version, and popular news aggregator Toutiao. Live streaming targeted at users of Douyin and another app in the family made up about 17%. Nascent businesses including games, e-commerce and TikTok accounted for 20 billion yuan, or roughly another 17%.
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