Bytedance consolidates itself as the most valuable startup
The Chinese company that owns Tik Tok currently exceeds Uber, thanks to a successful round of financing of 3 billion dollars
With the aim of expanding internationally, the Chinese startup Bytedance achieved financing through SoftBank for 3 billion dollars. With this, the company that owns the TikTok app is positioned above Uber; a reason for celebration.
The current value of Bytedance is US $ 75 billion and has been called the “most valuable startup in the world”. The company offers users apps for the creation and dissemination of videos, news platforms and creation of content supported by Artificial Intelligence in China, Japan, South Korea, the United States, Europe, Latin America, Southeast Asia and India.
Founded in 2012, the company has managed to stay in the market, perfecting its offer based on data recommendation systems. It owns the news aggregator Toutiao, from the Tik Tok, TopBuzz and News Republic app. In 2016, it launched the successful short videos app Douying to compete with Vine and other similar ones in the karaoke and short videos market.
Its success culminated with the purchase of Musical.ly last year, to integrate in 2018 Tik Tok, the social video network that monopolizes the niche of adolescents and currently gathers more than 500 million users with iOS and Android operating systems.
The recent negotiations, which also involved KKR and General Atlantic, will help “further accelerate its expansion internationally, while Bytedance remains in talks with other investors who may offer more funds in the future,” according to Bloomberg.
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