ByteDance, the parent company behind TikTok, CapCut and Moontoon, is now seen to be valued at around $550 billion. This new valuation comes from investment firm General Atlantic which has a stake in ByteDance, and is selling its equity stake.
This latest valuation shows an increase compared to last year when it was worth around $330 billion. For your information, General Atlantic previously invested in ByteDance when it was worth around $20 billion, and is now looking for a buyer for their stake in the company. At the moment, it is not known how much stake General Atlantic wants to sell.
For ByteDance itself, they are already present in the social media and entertainment arena through TikTok, in addition to also having high investments in the development of AI-based applications. In China, they have an offering called Doubao which is used by millions of users. In fact, recently, they have also made a name for themselves in the AI arena through the offering of a video generator, SeedDance which can generate various variations of videos through it.
ByteDance also generates high revenue in the advertising arena, and surpassed Meta last year.
