TikTok-owner ByteDance is in early talks to raise a new round of financing that will value it at $180 billion after the investment, according to two Reuters sources familiar with the matter.
The company is discussing the round with existing investors including Sequoia Capital and General Atlantic to raise around $2 billion for the company, the sources said, declining to be named as the talks were not public.
This is not a pre-IPO round, one of the sources said, as ByteDance has not yet decided on whether to obtain a standalone public listing for Douyin, the Chinese version of TikTok, or list some of its Chinese operations including Douyin and news aggregator Jinri Toutiao as a package in Hong Kong or Shanghai, reported Reuters.
ByteDance has been exploring both scenarios, Reuters reported last month and in July.