TikTok raising money

ByteDance, the parent company of popular micro video platform TikTok and the world’s most valuable startup, is reportedly looking to raise $2 billion at a $180 billion company valuation. Alex ponders why a company that made a profit of $3 billion last year would want to raise an additional $2 billion (making a monster acquisition???) and also touches on the now stagnant deal for Oracle and Walmart to acquire TikTok’s U.S. business.

This is an excerpt from episode 124 of Winner Take All. Watch the full episode here: youtu.be/iqRGRh1ymxk

Originally Aired: 11/12
ByteDance Hit $3 Billion in Net Profit Last Year: www.bloomberg.com/news/articles/2020-05-27/bytedance-is-said-to-hit-3-billion-in-profit-as-revenue-doubles?sref=vuYGislZ

TikTok Parent ByteDance Seeks to Raise Cash at $180 Billion Valuation: www.bloomberg.com/news/articles/2020-11-05/bytedance-seeks-funds-at-180-billion-value-before-ipo-of-assets

#SocialMedia #TikTokDeal #ByteDance

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