Sequoia Capital and KKR lead ByteDance funding round that values it at $180 billion

News Journals

4 years ago

BEIJING: U.S. personal fairness companies Sequoia Capital and KKR & Co are main ByteDance‘s newest funding spherical that can worth the Chinese language tech large and TikTok proprietor at $180 billion, two folks acquainted with the matter stated.

The funding spherical, which goals to boost $2 billion and would make it the world’s most useful financing spherical within the personal market, is drawing to an in depth after kicking off a couple of month in the past, the 2 folks stated.

The sources declined to be recognized as talks weren’t public. A Sequoia spokeswoman didn’t instantly reply to a request for remark outdoors common enterprise hours. KKR did not instantly reply. ByteDance declined to remark.

The Chinese language firm has seen its valuation greater than double up to now two years.

ByteDance’s final spherical of financing dates again to 2018, which valued it at $78 billion after that spherical. Earlier this yr, ByteDance was valued at as a lot as $140 billion within the secondary personal fairness market.

The soar in valuation comes regardless of a U.S. order, citing nationwide safety grounds, that ByteDance should divest TikTok’s U.S. property.

In its residence market, nonetheless, it’s on monitor to rake in no less than 180 billion yuan ($27.2 billion) in promoting income this yr, Reuters has reported.

Douyin, ByteDance’s Chinese language model of TikTok, stated it had amassed 600 million every day customers in August.

/* Consumer Identification Code Begin */
var _tiluuid = localStorage.getItem(‘_tiluuid’);
if (_tiluuid === null) {
operate receiveMessage(evt) {
if (evt.origin === ‘https://tilanalytics.timesinternet.in’) {
_tiluuid = evt.knowledge;
localStorage.setItem(‘_tiluuid’, _tiluuid);
}
}
window.addEventListener(‘message’, receiveMessage, false);
doc.getElementById(“_tiluuid_frame”).src=”https://tilanalytics.timesinternet.in/frame_v3.min.html”;
}
/* Consumer Identification Code Finish */

var urlParams = window.URLSearchParams && new URLSearchParams(window.location.search),
optParam = urlParams.get && urlParams.get(‘decide’);

var objSec = {template: ‘articleshow_main’, msid:’79680261′, secNames: [‘tech’,’funding’],secIds:[‘2147477890′,’13357270′,’78570550’]};

_log = window.console && console.log ? console.log : operate () {};
if(window.localStorage && localStorage.getItem(‘temp_geolocation’)) {
var geolocation = localStorage.getItem(‘temp_geolocation’);
}
// Creating Parts for IE : HTML 5 and cross area checks
(operate () { var elem = [“article”, “aside”, “figure”, “footer”, “figcaption”, “header”, “nav”, “section”, “time”];
for(var i=0; i -1) { window[disableStr + ‘-‘ + gaProperty] = true; }

ga(‘set’, ‘anonymizeIp’, true);
ga(‘create’, gaProperty, ‘auto’, {‘allowLinker’: true});
ga(‘require’, ‘linker’);
ga(‘linker:autoLink’, [‘economictimes.com’]);
ga(‘require’, ‘displayfeatures’);
window.optimizely = window.optimizely || [];
window.optimizely.push(“activateUniversalAnalytics”);
ga(‘require’, ‘GTM-WV452H7’);
customDimension.dimension1 = “ET Free”;
customDimension.dimension4 = “Reuters”;

customDimension.dimension6 = “Multipublish – 79679645 – 79680261”;
customDimension.dimension8 = “Dec 11, 2020”;
customDimension.dimension9 = “Funding”;

customDimension.dimension12 = “Bytedance,KKR & Co,douyin,Sequoia Capital,beijing newsroom enhancing by edwina gibbs”;
customDimension.dimension13 = “04:24 PM IST”;

customDimension.dimension15 = “No”;
customDimension.dimension16 = “No”;

(operate () {
var a = window.localStorage && localStorage.getItem(‘et_syftCounter’) || ”;
a = a && JSON.parse(a) || {};
if(a.beforeSyft && customDimension) {
customDimension.dimension32 = a.beforeSyft;
}
if(a.afterSyft) {
customDimension.dimension33 = a.afterSyft;
}
})()

grx(‘monitor’, ‘page_view’, grxDimension);

if(geolocation && geolocation != 5 && (typeof skip == ‘undefined’ || typeof skip.fbevents == ‘undefined’)) {
!operate(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=operate(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.model=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, doc,’script’,
‘https://join.facebook.web/en_US/fbevents.js’);
fbq(‘init’, ‘338698809636220’);
fbq(‘monitor’, ‘PageView’);
}

var _comscore = _comscore || [];
_comscore.push({ c1: “2”, c2: “6036484”});

if(geolocation && geolocation != 5) {
(operate() {
var s = doc.createElement(‘script’), el = doc.getElementsByTagName(“script”)[0]; s.async = true;
s.src = (doc.location.protocol == “https:” ? “https://sb” : “http://b”) + “.scorecardresearch.com/beacon.js”;
el.parentNode.insertBefore(s, el);
})();
}

if(geolocation && geolocation != 5) {
(operate() {
operate pingIbeat() {
window._pg_endpt=(new Date()).getTime();
var e = doc.createElement(‘script’);
e.setAttribute(‘language’, ‘javascript’);
e.setAttribute(‘kind’, ‘textual content/javascript’);
e.setAttribute(‘src’, “https://agi-static.indiatimes.com/cms-common/ibeat.min.js”);
doc.head.appendChild(e);
}
if(typeof window.addEventListener == ‘operate’) {
window.addEventListener(“load”, pingIbeat, false);
} else {
var oldonload = window.onload;
window.onload = (typeof window.onload != ‘operate’) ?
pingIbeat : operate() { oldonload(); pingIbeat(); };
}
})();
}

}

Share this: