ByteDance Valued at $250 Billion in Private Trades
- Startup’s valuation was $140 billion in last fundraising
- Biden administration is reassessing sale of TikTok business
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Shares of ByteDance Ltd., the Chinese parent of hit video app TikTok, are trading at a valuation of more than $250 billion in the secondary market, according to people familiar with the matter.
The Beijing-based startup’s value has surged in recent weeks as investors gain confidence in the business and founder Zhang Yiming weighs options for an initial public offering, said the people, asking not to be named because the transactions are private. ByteDance was valued at $140 billion during its last fundraising, according to CB Insights.