Capital Today Wins ByteDance Stake Auction at $480 Billion Valuation
Capital Today, led by Kathy Xu, secured a stake in ByteDance at a $480 billion valuation after a competitive seven-bidder auction. The shares, initially priced at $200 million reflecting a $360 billion valuation, saw fierce bidding, driving the final price to nearly $300 million. The deal underscores robust investor appetite for ByteDance despite geopolitical tensions surrounding TikTok's U.S. operations.
The auction, one of the largest secondary trades this year, attracted interest due to the rarity of sizable existing shares. Bidders viewed the opportunity as a gateway to a company with global reach, cutting-edge AI tools, and strong demand for content and advertising. ByteDance, founded in 2012 by Zhang Yiming, operates some of China's most popular digital platforms.
TikTok, with 170 million U.S. users, remains under scrutiny as the TRUMP administration negotiates a potential shift in ownership of its U.S. operations. The auction's outcome highlights the enduring appeal of ByteDance's growth narrative, even amid regulatory headwinds.