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TikTok owner ByteDance’s valuation reaches US$400 billion in anonymous trades posted online as IPO remains elusive



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TikTok owner ByteDance has seen a moderate rise in its valuation in recent months, according to anonymous private equity trades posted online, which comes after the company shelved plans for an initial public offering and founder Zhang Yiming announced that he would step down as CEO earlier this year.Despite the threat of a ban in the US under the administration of former president Donald Trump, TikTok has continued to see strong overseas expansion, with more than 1 billion monthly active users…

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