Uber is no longer the world's most valued tech startup.
This is clear after Chinese company Bytedance raised $3 billion at a valuation of $75 billion, according to several media outlets including Forbes and Bloomberg.
According to a source to Techcrunch, the valuation is $75 billion before the issue. This compares to Uber, which was valued at $72 billion in its previous capitalization.
Uber also has listing plans for next year, and the assessment is that the valuation in connection with the listing could be as much as $120 billion. In that case, the company is once again buzzing about Byte Dance.
Chinese company ByteDance operates a series of media platforms. However, the company is best known for its AI news aggregator Toutiao, a service that has become one of China's most used apps with 120 million users.
Source: finwire
