Source: Reuters (via feed)
Investment firm General Atlantic is selling an equity stake in ByteDance at a valuation of $550 billion. Two sources familiar with the matter disclosed the figures. This deal marks a significant increase in the value of the privately held shares of the Chinese social media company.
General Atlantic’s proposed share sale comes amid rising interest in social media businesses. ByteDance operates popular platforms worldwide, though the sources did not specify the size of the stake being sold. The valuation reflects the company’s growth despite recent market challenges.
The deal highlights continued investor confidence in ByteDance. Meanwhile, General Atlantic’s move could signal shifts in ownership among major backers. Details about the timing and potential buyers remain undisclosed. The stakeholders are awaiting regulatory and market developments before finalizing terms.
Overall, the $550 billion valuation underscores ByteDance’s substantial market position. However, the company remains privately held, limiting public access to detailed financial figures or future plans.
This valuation provides a benchmark for investors assessing the worth of major private tech companies in China. It also influences market perceptions of social media sector growth.
