The SIG-backed online media company is reportedly seeking a $70bn to $75bn valuation on the way to a 2019 initial public offering.
Bytedance, the China-based digital media company backed by technology and trading firm Susquehanna International Group (SIG), is looking to raise $3bn in funding at a $75bn valuation, Reuters reported today.
The company is seeking to secure capital at a valuation of $70bn to $75bn, according to people with direct knowledge of the matter, though it is still in discussions with banks over an initial public offering in Hong Kong in 2019.
Founded in 2012, Bytedance is best known for its…
