Why TikTok Founder ByteDance Became So Popular Among Investors?

ByteDance Ltd shot to fame primarily because of its famous social media app TikTok, which has become the latest fad among internet users. But what made the Chinese company gain massive traction over the past week in the stock market sphere is its present valuation. While ByteDance is a privately held company and not available on the public markets yet, reports quoting sources said that private trading saw its valuation zoom past US$ 250 billion in the secondary market in recent weeks. ByteDance’s valuation has spiked around the same time as reports of a possible initial public offering (IPO) began to crop up. Sources quoted by some media reported claimed that Mr Zhang Yiming is looking into an IPO but the transactions at the moment are being kept private. Including its latest financing from a secondary market on Tuesday, March 30, ByteDance is said to have raised about US$ 7.4 billion in total from 11 rounds of funding, according to CrunchBase. #ByteDance #tiktok #investors #ipo #kalkinemedia To get more updates about Australia,UK stock market news & insights subscribe our channel at https://bit.ly/3cHKioy About us: Kalkine Media’s You Tube Channel is a one stop shop for all related news, updates, expert views, business insights etc. Catch ASX Daily market commentary, trending news stories for the day, market movers, stock information, top research stories, expert insights and much more only on Kalkine Media’s You Tube Channel. To get more updates about Australia, US,UK stock market news & insights subscribe our channel at https://bit.ly/3cHKioy Check out our media Website 👉 https://kalkinemedia.com/au Follow us and stay updated on the Go with the Stock Market 👇👇 Facebook -   / kalkineau   Twitter -   / kalkineau   LinkedIN -   / 4829818