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TikTok creator ByteDance hits $425bn valuation on gray market

Recent management changes hint at huge IPO in near future

BEIJING -- The valuation of ByteDance has hit $425 billion for new private equity investors, according to Chinese technology news portal 36Kr.

Information published by 36Kr shows three listings of stakes for sale in ByteDance. The new high in ByteDance's valuation was revealed by one investor whose shares are estimated at between $50 million and $100 million.

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