ByteDance Headquarters

“Six-year-old Bytedance, owner of news aggregator Toutiao and video sensation Tik Tok, has surpassed Uber Technologies Inc. to become the world’s most valuable startup, according to CB Insights, which values Uber at $72 billion. Having become a major player in China’s internet scene, it’s now planning to use its influx of cash to take on Western rivals. Its biggest overseas hit is a video service called Douyin — known as Tik Tok beyond China — that’s siphoning attention from the likes of Tencent Holdings Ltd. and Facebook Inc.”

Source : Bytedance Is Said to Secure Funding at Record $75 Billion Value – Bloomberg