Clouds part, riches rack up for TikTok
During its last fundraising round, ByteDance reached a $180bn valuation
18 April 2021 - 00:02
Just last year, the world’s most valuable startup, ByteDance, was being squeezed from all sides. The Trump administration in the US wanted the Chinese firm, which owns the ubiquitous TikTok video-sharing platform, to get rid of assets. Beijing was cracking down on tech businesses, and India had blacklisted some of its social-media apps.
For all the obstacles, ByteDance kept growing. Now its founder, 38-year-old Zhang Yiming, is among the world’s richest people — a distinction that lately has carried increased risks in China...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.