The bid values TikTok at 50 times its projected 2020 revenue of $1 billion.
... [+]ByteDance, which is privately owned, has received a proposal from some of its investors, including Sequoia and General Atlantic, to transfer majority ownership of TikTok to them, sources familiar with the matter told Reuters.
Companies and investment firms have also approached ByteDance about acquiring TikTok, which crossed themark in April, according to Sensor Tower, a data firm that evaluates mobile apps. The bid values TikTok at 50 times its projected 2020 revenue of $1 billion, giving it a higher valuation than competitor Snap which is valued atByteDance executives have reportedly valued TikTok at more than $50 billion so it is unclear ifTikTok expects to bring in $6 billion in revenue in 2021 as it grows and makes more money from advertising, sources said, which would give it a whopping $300 billion valuation using the current 50 times projected revenue model.
ByteDance is reportedly considering divesting TikTok’s U.S. operations in an apparent workaround to the potential ban in the U.S. regarding
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