ByteDance remains sought after by investors, with its valuation rising to $480 billion.

"Venture Capital Queen" Xu Xin's venture capital firm, Capital Today, acquired a stake in ByteDance at a valuation of $480 billion in a share auction, with the capital market remaining optimistic about TikTok’s parent company.

On November 20, according to media reports, Capital Today beat out multiple other institutions in the auction to acquire shares from ByteDance's early investor, Bank of China Group Investment Ltd. Capital Today has previously invested in internet giants including Meituan and JD.com.

According to sources cited by the media, the deal initially valued ByteDance at $360 billion, with a price tag of about $200 million. As seven institutions entered bidding, the final sale price was driven up to around $300 million, corresponding to a valuation approaching $500 billion. Sources indicated that this was one of ByteDance's largest secondary market transactions this year.

Analysts suggest that such intense bidding in this auction likely stemmed from the rarity of the shares being sold, and recognition among investors of ByteDance’s AI technology and global business growth prospects.

Valuation Surges Sharply

According to media reports, ByteDance's valuation has shown a significant upward trend in recent transactions. Sources noted that an employee stock buyback plan launched last September corresponded to a valuation of about $330 billion. They added that the company has since been preparing an annual stock buyback plan for institutional shareholders.

Previously, major investors including SoftBank Group and Fidelity Investments have raised the valuation of their ByteDance shares to over $400 billion.

According to CB Insights data, based on current market valuations, ByteDance has surpassed SpaceX (approximate valuation: $400 billion) to become the world’s second-highest valued startup, trailing only OpenAI at $500 billion.

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