According to a Reuters report citing two informed sources, General Atlantic is divesting its stake in ByteDance, with the transaction valuing the company at $550 billion (approximately HK$4.29 trillion).
The report indicates that General Atlantic recently initiated the process to sell a portion of its equity and aims to complete the transaction by March. When the firm first invested in ByteDance back in 2017, the company was valued at around $20 billion.
This potential equity sale represents a 66% increase compared to the $330 billion valuation from ByteDance's employee stock buyback program last September. It is also 15% higher than the $480 billion valuation from a stake purchase by Capital Today in November of last year.