SoftBank is said to be investing $3 billion in ByteDance
It’s reported by Bloomberg that ByteDance, the parent company of the hottest short video app Douyin, or TikTok (its international version), is receiving investment from SoftBank of $3 billion. However, the alleged investor refused to confirm the actual number and exact date. The valuation of ByteDance was rumored to have reached an astonishing $75 billion, exceeding that of the search engine giant in China, Baidu. The statistics show that the downloads of TikTok in the US beat Facebook, making it the most downloaded monthly application in America.