Reports from Reuters and from analysts polled by Bloomberg suggest it could fetch between $20 billion and $50 billion—a wildly higher price tag than the valuation of its peers.
The order states that ByteDance"shall divest all interests and rights" within 90 days in"any tangible or intangible assets or property, wherever located, used to enable or support ByteDance's operation of the TikTok application in the United States, as determined by" the Committee on Foreign Investment in the United States.
Zhang Yiming, Bytedance's founder is in for a big payday when the deal completes. As is Kevin Mayer, Bytedance's American COO and TikTok's CEO. Mayer was recently poached from Disney where he masterminded the launch of Disney Plus. He was named TikTok CEO in May. The company is funded by 22 investors, Tiger Global Management and GGV Capital being the most recent of those. Tiger Global Management is an American hedge fund, while GGV was founded in Singapore.
Some have speculated that Oracle's entrance to the bidding war could primarily be a means to drive up the price of TikTok, forcing software rival Microsoft to pay inflated prices, a move which would be a coup for Bytedance and Chinese investors.
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