TikTok is inescapable right now, and it’s not just teens paying attention — it’s rocked the business world as well. Bytedance, the owner of the wildly popular short-form video app, is now valued at more than $75 billion following a new round of investment. This means Uber has unexpectedly lost its long-held title of the world’s most valuable tech startup to a low-profile challenger from China.
You could be forgiven for not having heard the name Bytedance before the recent news. The founder, 35-year-old Zhang Yiming, rarely gives interviews, and the company’s Western-facing media presence is close to nonexistent. But the company’s global ambitions are real and so are its chances. Bytedance is the first Chinese internet company with a…
Written by Sam Byford
This news first appeared on https://www.theverge.com/2018/11/30/18107732/bytedance-valuation-tiktok-china-startup under the title “How the company behind TikTok became the world’s most valuable startup”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
