Bytedance reportedly raises $3B at $75B valuation

www.bloomberg.com

That would make the Chinese company the world's highest-valued tech startup, overtaking Uber -- but the ride-sharing firm is planning an IPO that will surely raise its value considerably. Some reports have speculated Uber would go public at $120 billion. Either way, Bytedance has grown significantly over the past year, with Bloomberg reporting that its annual ad sales revenue was $2.8 billion in 2017 with a target of $8.2 billion -- and still it isn't profitable. We know it is paying hugely lucrative salaries and I noticed a range of online ads while in Europe earlier this month so growth is still very much the goal... even at $75 billion.

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