Tiktok company has the valuation beyond Uber and other global companies

News24xx.com - If you hear the name TikTok, maybe the first thing, you imagine is an application full of uneducated contents in it. In fact, if you enter keywords such as "Aplikasi Goblok", "Aplikasi Alay", and "Aplikasi Bodoh" on Google Play Store, then TikTok will be the top search result.

Even so, behind the application that many Indonesian citizen are grateful for after this app was blocked by Ministry of Communication and Information (Kominfo) some time ago, even though it has now been revoked, Now the startup of this application becomes a world giant. Bytedance is the name of the startup.

This Chinese startup was reportedly earning a fund of USD 3 billion, with US investors as their main target. If the investment is succed, then they will assume the status of company with the highest global valuation of USD 75 billion (IDR 1,082 trillion).

Yes, if it's happens, then they can bypass valuations from other global startups such as Uber (USD 68 billion) and fellow ride sharing service providers, namely Didi Chuxing (USD 56 billion). This number comes from the data belonging to CB Insights.

Even so, based on information from a source, the valuation that Bytedance can achieve can still change. In addition, there is still no further information about the funding process, as quoted from Bloomberg, Thursday, August 8th 2018.

Previously, Bytedance had combined TikTok with Muscial.ly, platform they acquired in December 2017 with nearly USD 1 billion. By maintaining TikTok name, now the combination of the two is estimated to have a user base of 600 million worldwide.

 

 

 

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