Tiger Global acquires stake in Bytedance through secondary transactions

The letter quoted by the FT report said Tiger Global ‘purchased shares over the past 21 months at a low multiple of future free cash flow’. According to analysts, low multiple of future free cash flow means the company is undervalued and share is cheap. Based on secondary markets estimation, Bytedance recently was valued anywhere between $90-100 billion Tiger started buying Bytedance at about half the value post-Softbank $3 billion round two years ago. Known for its popular short video-sharing app TikTok, Bytedance was valued at $75 billion in 2018.

8 views0 comments
  • Amazon Social Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Instagram

© 2021 by StartupNews. Proudly created in India