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ByteDance douses rumors of IPO despite naming new CFO

Short-video giant says it is still unable to meet 'conditions for public listing'

Sources say ByteDance was valued at $180 billion in its latest funding round in December.   © Reuters

ByteDance, owner of short-video sensation TikTok, said it has no imminent plans for an initial public offering, breaking a long silence amid months of speculation that the world's most valuable tech startup would soon go public.

"After a thorough study, we believe the company currently doesn't meet the conditions for a public listing," ByteDance said on Friday in a statement.

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