Most of us know ByteDance as the China-based parent company of video app TikTok, which was supposed to be banned in the United States.
In addition to TikTok, ByteDance owns 2 huge ad-based Chinese apps:
- Douyin, which is basically China’s version of TikTok
- Toutiao, a news aggregator powered by a recommendation engine
ByteDance is currently valued at $180B, but when it goes public — which it wants to do in 2021 — it will likely skyrocket based on 2 comparisons:
- Facebook: Despite having ~½ of FB’s revenue ($37B vs. $79B), it’s valued at ~¼ of the American social network ($180B vs. $800B)
- Kuaishou: A competing Chinese social app is aiming for a $60B IPO on ~$4B of revenue; at the same market value-to-sales ratio, ByteDance would be worth $500B+.
In sum: 👀 🚀
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