Social Networking | Founded 2012 | China | bytedance.com/en/
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TYPE OF SECURITY: Equity - Direct Ownership/ HIGHLIGHTS SPV
DEAL SIZE: • ByteDance has raised a total of $7.4B in funding over 11 rounds. Their latest funding was raised on Mar 30, TBD 20201.
MINIMUM INVESTMENT: • As of October 2020, TikTok surpassed over 2 billion mobile $250,000 downloads worldwide
KEY INVESTORS: • ByteDance has a global presence – its products and services are available in over 150 countries in the world, in more • Altimeter Capital than 75 languages2.
• K3 Ventures • Six of the 10 most popular apps on China's iOS App Store in • Morgan Stanley January 2020 were owned by ByteDance.
• SoftBank The Company • Tiger Global Management ByteDance is a multinational internet technology company • Goldman Sachs founded in 2012 by Zhang Yiming and is headquartered in Beijing. ByteDance is best known for its video-sharing social networking • General Atlantic services and apps TikTok and Douyin, the Chinese-exclusive counterpart to TikTok. Another flagship product of the company, • Sequoia Capital which focuses on its home country primarily is Toutiao, the larg- est AI-powered content and news platform in China. Toutiao de- livers personalized content recommendations to every user based on their interests.
According to Bloomberg, the Chinese startup’s valuation has ris- en to more than $100 Billion which puts it in the ballpark of the market capitalizations of some of the world’s biggest public com- panies, and ahead of major competitors of the company such as Twitter Inc. and Snap Inc. but still behind Facebook and Google3.
CONTACTS Premindra Rajaram Arjun Vijayan Director of Partnerships [email protected] [email protected] +971 52 870 6325 +971 55 261 7309 GRIP (DIFC) Ltd. - TELEPHONE: +971 4 564 2244 | EMAIL : [email protected] Social Networking| Founded 2012 | China| bytedance.com/en/
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Like most other tech companies, the company makes most of its money from advertising, as well as through in app purchases and there is a lot of room for growth in both areas. ByteDance reportedly generated a massive $5.6 billion in revenue in the first three months of 2020. The company’s first-quarter figure means there has been over 130% growth in revenue as compared to the previous year4. TikTok is reported to have over 800 million daily active users which compares to 1.73 billion daily active users for Facebook, this year. Rivals that have direct and indirect competition with ByteDance both domestically as well across the world include Baidu, Ali Baba, Tencent, Facebook, Google etc.
Sources and References
1. https://www.crunchbase.com/organization/bytedance/company_financials 2. https://www.bytedance.com/en/ 3. https://www.bloomberg.com/news/articles/2020-05-20/tiktok-owner-s-value-surpasses-100 -billion-in-private-markets 4. https://www.businessinsider.com/tiktok-bytedance-revenue-billions-first-quarter-results- growth-2020-2020-6
CONTACTS Premindra Rajaram Arjun Vijayan Director of Partnerships [email protected] [email protected] +971 52 870 6325 +971 55 261 7309 GRIP (DIFC) Ltd. - TELEPHONE: +971 4 564 2244 | EMAIL : [email protected] Social Networking | Founded 2012 | China | bytedance.com/en/
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