ByteDance shelves IPO as China's first $1 trillion private valuation looms
TikTok parent ByteDance has hit a $900 billion valuation in secondary market trades and is expected to cross the $1 trillion threshold next quarter. The firm is choosing to remain private and has shelved its IPO plans. Goldman Sachs and Tiger Global increased their stakes in the latest round.
According to secondary-market trades reported by Nikkei Asia, the value of TikTok-parent ByteDance shares reached the $900 billion level on Monday. The company's valuation, based on a SpaceX-comparable analysis framework, is expected to cross the $1 trillion threshold within the next three months.
ByteDance founder Liang Rubo told an all-hands meeting that an IPO is "not on the table at this time". The company is buying back shares from employees and early investors through its buyback programme. Goldman Sachs and Tiger Global increased their holdings by $4.2 billion and $2.8 billion respectively in the latest secondary round.
ByteDance recorded revenue of $165 billion in 2025, close to Meta Platforms' annual revenue. TikTok's new "AI creator studio", a subscription-based content-creation tool, is growing rapidly in non-Chinese markets. The questions surrounding the US TikTok law remain unresolved; the Oracle-partnership framework for US operations remains in place.
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