TOKYO/BEIJING -- ByteDance, the Chinese startup behind hugely popular video-sharing app TikTok, has become the world's most valuable unicorn -- or privately owned company worth $1 billion or more.
The $75 billion-valued ByteDance has overtaken ride-hailing service Uber Technologies, the previous unicorn king, worth $72 billion. Japanese technology investor SoftBank Group is putting $3 billion into the startup this month through its SoftBank Vision Fund and other conduits.
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