A US trading firm reportedly owns 15% of TikTok-owner Bytedance, a stake potentially worth more than $15 billion
Susquehanna's stake may be worth as much as $15 billion, according to PitchBook data cited by the Journal. This reportedly makes Susquehanna the biggest external investor in the Chinese social-media company. The firm is a giant in options trading, and is based just outside Philadelphia.
PitchBook's data also reportedly indicated Susquehanna joined a $5 million investing round in ByteDance in 2012, the year the Chinese firm was founded. It separately invested in Musical.ly, the short-form video app that was690 million monthly active users across the worldHowever, the app's fate hangs in the balance as the Trump administration attempts to force a sale or divestment of its US business to an American owner.
On September 14, Oracle confirmed it had struck a deal with ByteDance to be its "trusted technology provider" in the US, allowing TikTok to stay in the US. President Donald Trump initially gave his "blessing", but then told Fox News on September 28 that he wouldn't support the deal unless Oracle and Walmart had "total control" over the video-sharing app.The companies have until November 12 to finalize a deal, or else TikTok faces a ban in the US.
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