Chinese News App’s Parent Bytedance Rumored To Raise $3 Billion

Beijing Bytedance Technology Co. has reportedly kicked off an equity-fundraising round that could value the owner of China’s most popular news-aggregation app at as much as US$75 billion. The company is aiming to raise around $3 billion, according to a media report. Although, that amount could change and there is no guarantee Bytedance will achieve its targeted valuation. Founded in 2012, Bytedance owns a series of content platforms including its flagship product Toutiao that provides users personalized content through machine …

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