Exclusive | Value of TikTok maker ByteDance approaches US$400 billion for new investors, sources say
- Valuation of the Chinese start-up has been boosted by rival Kuaishou’s recent IPO in Hong Kong
- ByteDance is said to be mulling an offshore listing for TikTok’s Chinese sibling app

The valuation of ByteDance is approaching US$400 billion for private-equity investors, a source told the South China Morning Post, as the Chinese owner of short video-sharing app TikTok cements its leading position among global tech unicorns.
The person, who was briefed on the matter, said the value of the Beijing-based start-up has been swelling in the private market as it considers a public listing for TikTok’s Chinese sibling app Douyin.
The new valuation of nearly US$400 billion, if confirmed, almost triples ByteDance’s US$140 billion valuation after its series C fundraising in March 2020, according to data from analytics firm CB Insights.

ByteDance, which celebrated its ninth anniversary in March, has also been offering to buy back stock options from departing employees at a discount that put its value at US$270 billion, a second source said.
Based on the internal buy-back offer, a third person put the company’s discounted value higher at nearly US$300 billion, saying that the value has been boosted by the feverish performance of ByteDance’s smaller rival Kuaishou Technology on the Hong Kong stock market since its February debut. Reuters also reported this week that ByteDance’s valuation in employee stock buy-back jumped to US$300 billion.
Kuaishou – which has 300 million daily active users, roughly half of Douyin’s – currently has a market cap of about US$150 billion.
The valuation of Kuaishou, which reported US$8.95 billion in revenue and losses of US$17.8 billion in 2020, has provided a benchmark for ByteDance’s valuation.
The TikTok owner’s revenue is estimated to be at least three times larger than Kuaishou’s, said a fourth source, adding that ByteDance’s profit is also believed to be higher, giving it a “fair value” three times that of Kuaishou.