Digital media company Bytedance has agreed $3bn in a round set to be led by SoftBank that will reportedly value it at $75bn.
China-based digital media company Bytedance has agreed to raise $3bn from investors including telecommunications group SoftBank at a $75bn valuation, Forbes reported yesterday, citing a person familiar with the matter.
Growth equity firm General Atlantic and investment firms KKR and Primavera Capital Group also took part in the round. A source told Bloomberg that SoftBank had intended to invest $1.8bn in the round, depending on whether secondary shares were available.
Bytedance’s best known property is news aggregation app Toutiao, which…
