ByteDance looks to raise $2 Bn that will value it at $180 Bn.


ByteDance Ltd. is in discussions to raise $2 Bn before listing some of its businesses in Hong Kong, people familiar with the matter said, even as it seeks to avoid a ban on its TikTok service in the U.S.


The Chinese company is in talks with a group of investors including Sequoia over funding that would boost its valuation to $180 Bn, the people said, asking not to be identified discussing a private deal. ByteDance could then start preparing some of its biggest assets including Douyin and Toutiao for an initial public offering in Hong Kong, the people said. The company was last valued at $140 Bn, according to CB Insights.


The terms of the funding round may still change as negotiations are ongoing, the people said. A representative for ByteDance declined to comment, while a representative for Sequoia didn’t immediately respond to a request for comment.


ByteDance, already the world’s most valuable startup, is in the throes of fighting a Trump administration ban on TikTok in the U.S. after the video service was labeled a national security threat. It’s now seeking U.S. The terms of the funding round may still change as negotiations are ongoing, the people said. A representative for ByteDance declined to comment, while a representative for Sequoia didn’t immediately respond to a request for comment.

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