ByteDance Ditches IPO Plans For The Time Being: SCMP
By Hernandez in Business
Updated 3 years ago
TikTok and Douyin parent, ByteDance, has dismissed its initial public offering (IPO) plans, for the time being, South China Morning Post reports. ByteDance reached a $400 billion valuation in the private market, almost tripling its $140 billion valuation post a March 2020 fundraising. The company deferred its IPO plan partly due to difficulties in business restructuring under the Chinese and U.S. regulations.