- The valuation for Bytedance ( BDNCE ), the parent of short video app TikTok, is said to have fallen below $300 billion, down at least 25% from last year.
- Some investors have been buying shares in the Chinese tech startup for valuations as low as $275 billion, according to a Bloomberg report, which cited people familiar. Some investors are said to have offered as low as $250 billion.
- The current valuation are in contrast to when hedge fund Tiger Global purchased additional shares of ByteDance last year at a blended valuation of $460 billion, Bloomberg reported, citing an investor document viewed by the news agency.
- The Information reported in late October that ByteDance was valued at $320 billion in a sale to a Middle Eastern billionaire and was valued at $350B in a sale to a hedge fund. The figures were below the $400B the TikTok parent was valued at in private transactions before China started its crackdown on the tech sector.
- Bloomberg reported last month that Fidelity Investments cut its valuation for ByteDance.
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TikTok parent ByteDance valuation said to drop 25% in private deals - report