According to Bloomberg, the market value of Chinese companies ByteDance, which is the owner of the social network TikTok, has grown at least by one third and exceeded $ 100 billion.
Previously, the startup was estimated at 75 billion dollars. Investors valued the company at this level 2 years ago.
Lately, there have been several transactions for the sale of shares in ByteDance, and under some of these agreements ByteDance estimated at 140 billion dollars.
However, the agreement is a private transaction, and reflect only the subjective opinion of individual investors.
ByteDance over the last few years gained momentum. In part this contributes to the success of the social network TikTok, but the company has also achieved success by running Douyin (the Chinese equivalent of TikTok) and news service Toutiao.
In October 2019, Bloomberg found that ByteDance began to consider the idea of a possible placement of shares abroad, in USA or Hong Kong. Before that, the company plans to focus on increasing staff and strengthening international activities.
The new assessment raises ByteDance on the level of the financial conglomerate HSBCH and chip maker IBM. In China, the company was now on a par with Tencent and Alibaba.
It should be noted that ByteDance refused as-or to comment to Bloomberg.
Recall that the market value of Tesla appeared for the first time above 100 billion us dollars in January of this year.