ByteDance, the company behind the social media sensation TikTok, is in talks to raise another $2 billion before the initial public offering of a large chunk of its international businesses on the Hong Kong StockExchange, according to a Bloomberg report.
The new financing would give the Chinese tech powerhouse a valuation of $180 billion, according to people cited by Bloomberg.
Investors, including ByteDance’s existing backers like Sequoia, are in the running to finance the new investment, the Bloomberg report said.
Sequoia had emerged as one of the drivers behind a now-stalled deal touted by the Trump administration to have Oracle take some sort of control over the American operations of ByteDance’s most valuable international asset — TikTok.
Both Sequoia and Oracle have significant ties to President Trump through Republican mega-donors Doug Leone, a managing partner at Sequoia, and Safra Catz and Larry Ellison, Oracle’s top leadership and founder.
ByteDance has long planned a public offering for some of its largest Asian assets Douyin and Toutiao, which are huge drivers for the company’s revenues.
TechCrunch previously reported that ByteDance last year generated 120 billion yuan ($17.2 billion) in revenue, citing an investor with knowledge of the company’s finances. Around 67% of that revenue was derived from ads sold on its domestic apps Douyin, TikTok’s Chinese version, and popular news aggregator Toutiao. Live streaming targeted at users of Douyin and another app in the family made up about 17%. Nascent businesses, including games, e-commerce and TikTok, accounted for 20 billion yuan, or roughly another 17%.
The company projected its 2020 revenue at 200 billion yuan ($28.7 billion), with TikTok and other emerging businesses contributing 30 billion yuan, or 15%, according to the investor. Previous reports by Reuters and Bloomberg cited similar revenue figures.
ByteDance is already the most valuable privately held, venture-backed technology company in the world, but at least some of that value is tied up in the revenue-generating potential of the company’s TikTok assets. And it appears that any new investment (at the valuations being reported) would be an indication that investors are shrugging off previous concerns about how a TikTok spin-off might affect the company.
Much of what happens next will hinge on the presidential elections in the U.S. and various court battles that remain underway. A Biden administration could scuttle the planned deal between TikTok, Oracle and Walmart — and a timeline for a separate TikTok public offering within the U.S.
There’s also internal confusion among the TikTok deal’s participants over who will own what when the dust finally settles and a deal moves forward.
As we reported in September:
… our assumption, that Oracle is taking 12.5% in TikTok Global, and Walmart will take 7.5%. The deal terms would value TikTok at about $60 billion by some estimates.
That’s a simple story, but apparently not the full one, because now there is another wrinkle happening here.
In a new statement attributed to its executive vice president Ken Glueck, Oracle said that “Upon creation of TikTok Global, Oracle/Walmart will make their investment and the TikTok Global shares will be distributed to their owners, Americans will be the majority and ByteDance will have no ownership in TikTok Global.”
President Donald Trump has spoken out about the deal himself in places like CNBC, arguing that TikTok must be completely controlled by Americans.
The U.S. government’s trouble with TikTok stems from a few different sources. For one, users on the platform managed to troll a deeply vindictive president and turn one of his planned marquee campaign events into a farce. And more importantly to the nation, but apparently less so to the administration, the company’s ties to China could expose U.S. citizens’ data to the CCP and its users to the potential for manipulation through TikTok’s decisions on what to post or not post on the app.
Sequoia and ByteDance had not responded to a request for comment at the time of publication.
Best ASO Tips To Boost Your App Search In 2022
You need your application to be really effective in the overpopulated application market. Then, at that point, you will have to drive downloads to endure. So when it’s all said and done, you must account for yourself. Get your application the consideration it merits.
The uplifting news, however, is that customers love to download applications – last year, we downloaded in excess of 200 billion applications around the world, and that figure is set to increment to 258 billion every year by 2022 as cell phone reception increments.
Assuming you need to be seen and have your application downloaded by however many clients as could reasonably be expected, then, at that point, you should begin by taking a gander at the application store.
Underneath, we’ve assembled probably the best application store improvement methods to assist you with creating more downloads in 2021 and then some…
Start with Your Application Name
The odds are you as of now have an extraordinary name for your application, yet an appropriately advanced application is about significantly more than marking.
Assuming you need to amplify transparency and guarantee you’re showing up when clients look for applications like yours, you ought to remember the primary keywords for your application name or title, comparable to how you’d make a title label while improving a site page.
You could begin with your application name so it tends to be plainly recognized, thus it appears on the home screen of gadgets.
Then, at that point, you can add a scramble or vertical bar prior to adding a few pertinent watchwords to your speciality, or even put your application name in quotes as we did with FORE Business Golf Networking.
Urge Users to Leave Reviews
You could ask for reviews by clients through the means of your site, or through an in-application notice toward the finish of their meeting, yet make sure to restrict the number of pop-ups you execute with the goal that you don’t disturb or disappoint your clients, as this could urge them to erase your application.
We’d support all application engineers and entrepreneurs to react to criticism on their applications, as this can further develop client relations and resolve issues in an open arena.
Zero in on Your Application Depiction
Your application depiction is your principle assemblage of text your landing page content, in a manner of speaking. Utilize a site like KeywordTool.io to discover information on your picked catchphrases to expand your openness. As portrayals are shortened, ensure you remember the main data for the initial three lines of your depiction, and afterwards add things like social confirmation, emoticon, and suggestions to take action to build commitment and downloads.
Incorporate Appealings Screen Captures
Pictures and recordings won’t help your application rank, yet they will expand changes and assist clients with working out whether it’s an application they truly need.
There’s a little guide in empowering clients toward downloading your application if in any case, they’re not going to interface with it, or download and leave a negative survey when they understand it wasn’t what was promoted.
Assuming you need to ‘tart up’ your item page, then, at that point, you can add marking and extra text and data and designs to your recordings and screen capture, yet they ought not to diminish your item.
Pay for App Store or Play Store
As we have SEO and pay-per-click, you need to work one next to the other (one is a gradual methodology with long haul benefits – the other is a speedy success yet requires an endless spending plan), application store promotions can be utilized to get the message out with regards to your new programming and assist you with positioning at the highest point of query items pages – in front of your opposition and enormous names in the application world.
Keep in mind, you’ll need to focus on the right crowd and art an advertisement that will assist you with changing over and that since you’re paying for situations, that doesn’t mean clients will download or cooperate with your application.
You can employ a group of App Store Optimization Services suppliers to benefit a scope of application store improvement administrations, including watchword advancement, resource enhancement, and restriction to guarantee your application is seen by individuals that matter.
We have long periods of involvement in creating and showcasing applications and have assisted different customers with expanding their downloads by infiltrating rewarding and regularly undiscovered business sectors.
Prachi Gupta likes to write information about Digital Marketing Trends that can help audience to grow their business.
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