ByteDance Revenue, Valuation, Funding & Investors
ByteDance is valued at $480B as of November 2025, a 2.6x multiple on its last reported $186B revenue.
Last ByteDance valuation
$480B
Secondary · Nov 2025
Last ByteDance funding round
$2B
Undisclosed stage · Dec 2020
ByteDance revenue
$186B
Secondary · Nov 2025
Key investors in ByteDance
HSG
KKR
General Atlantic
Sequoia Capital
SoftBank Group
Qiming Venture Partners
About ByteDance
ByteDance is a Chinese multinational technology company founded in 2012 and headquartered in Beijing, best known as the developer of TikTok — the short-form video platform with over one billion active users globally — as well as its Chinese equivalent Douyin. The company operates a broad portfolio of content and information platforms powered by proprietary AI-driven recommendation algorithms, including the news aggregator Toutiao, the productivity suite Lark, the video editor CapCut, and the online education platform Feishu. ByteDance is one of the world's most valuable private companies and operates across more than 150 markets, employing over 100,000 people worldwide.
Founded
2012
HQ
BeijingWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Advertising
Revenue
$186B (Nov 2025)
Valuation
$480B (Nov 2025)
ByteDance Valuation
ByteDance is currently valued at $480B, based on its secondary sale in November 2025.
The $300M round was led by Capital Today.
ByteDance's valuation has grown 960x from $500M at its Series C in June 2014 to $480B in November 2025, across 7 priced rounds.
ByteDance valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2025 | Secondary | $480B | 2.6x |
| Mar 2023 | Secondary | $220B | 18.3x |
| Dec 2020 | Undisclosed stage | $180B | 5.2x |
| Oct 2018 | Series E | $75B | 10.3x |
| Aug 2017 | Undisclosed stage | $20B | 8.6x |
| Apr 2017 | Series D | $11B | - |
| Jun 2014 | Series C | $500M | - |
ByteDance Revenue
ByteDance's latest recorded revenue is $186B, as of its secondary sale in November 2025. At a $480B valuation, that implies a 2.6x revenue multiple.
Revenue grew from $2.3B in August 2017 to $186B in November 2025, while the revenue multiple moved from 8.6x to 2.6x.
ByteDance revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2025 | $186B | $480B | 2.6x | Secondary |
| Mar 2023 | $12B | $220B | 18.3x | Secondary |
| Dec 2020 | $34B | $180B | 5.2x | Undisclosed stage |
| Oct 2018 | $7.3B | $75B | 10.3x | Series E |
| Aug 2017 | $2.3B | $20B | 8.6x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
ByteDance Funding History
ByteDance has raised a total of $8.1B across 5 funding rounds, plus 2 secondary share sales.
ByteDance's first fundraising round was a $100M Series C in June 2014. The most recent completed round was a $2B undisclosed-stage round in December 2020.
ByteDance funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2025 | Secondary | Capital Today (lead) | $300M | $480B | ByteDance, the parent company of TikTok and Toutiao, reached a $480 billion valuation in a secondary market transaction on November 20, 2025, when Capital Today acquired a chunk of shares from Bank of China's private equity arm in a competitive auction with seven bidders. The deal price was approximately $300 million, up from an initial $200 million offer implying a $360 billion valuation. Capital Today, led by investor Xu Xin, won the bid for this significant secondary transaction, one of the largest for ByteDance that year. This valuation exceeds ByteDance's recent employee share buyback at around $330 billion in September 2025 and marks an increase from marks set by major holders like SoftBank and Fidelity above $400 billion. Earlier, HSG's continuation fund planned to value ByteDance at up to $370 billion. ByteDance first received investment from HSG (then part of Sequoia) in 2014 at a $500 million valuation when operating primarily as news app Toutiao. ByteDance demonstrated strong performance in 2025, with first- and second-quarter revenues surpassing Meta's, positioning it as the world's top social media company by sales. Revenues grew through the year, with annual profit potentially reaching $48 billion. The company led China's consumer AI apps via its Doubao chatbot, achieving the largest monthly active user share and processing 16.4 trillion tokens daily by May 2025 end. |
| Mar 2023 | Secondary | G42 (lead) | $100M | $220B | ByteDance, the Chinese parent company of TikTok, received a private investment from Abu Dhabi-based AI firm G42 through its 42XFund. G42 acquired a stake worth over $100 million from existing investors, valuing ByteDance at $220 billion. This transaction occurred in recent months prior to March 2023 reports. Another fund purchased a stake shortly after at a $225 billion valuation. The $220 billion valuation marked a discount from ByteDance's $300 billion share buyback valuation the prior year and far below its 2021 peak of around $400-460 billion in secondary markets. G42 is controlled by UAE royal Sheikh Tahnoon bin Zayed Al Nahyan. TikTok generated an estimated $12 billion in revenue in 2022. The deal reflects broader market uncertainty around ByteDance amid US national security concerns over TikTok, including potential bans and discussions of separating the app from its parent company. |
| Dec 2020 | Undisclosed stage | KKR (lead); Sequoia Capital (lead); CPE | $2B | $180B | ByteDance, the parent company of TikTok and Douyin, reported its 2020 revenue doubled to $34.3 billion, as announced to staff at a company meeting. The company experienced rapid growth driven by its social video platforms amid global popularity, though facing regulatory scrutiny including a ban in India in June 2020 and U.S. national security concerns. |
| Oct 2018 | Series E | General Atlantic (lead); KKR (lead); Primavera Capital Group (lead); SoftBank Group (lead) | $3B | $75B | ByteDance, parent of TikTok and Douyin, raised approximately $3 billion in October 2018 from General Atlantic, KKR, Primavera Capital Group, and SoftBank Vision Fund. The company was valued at around $75 billion USD in 2018 per reports. In 2018, ByteDance generated RMB 50 billion in revenue, up significantly from RMB 16 billion in 2017 and RMB 6 billion in 2016, driven primarily by advertising (RMB 40 billion, 80% of total). Advertising remained the core revenue driver, with the company expanding into live-streaming, edtech, gaming, search, and gadgets to diversify. This round supported ByteDance's global growth amid surging popularity of its short-video apps. |
| Aug 2017 | Undisclosed stage | General Atlantic (lead) | $2B | $20B | ByteDance, the parent company of TikTok and Douyin, received an investment from General Atlantic in 2017 when the company was valued at approximately $20 billion. This marked General Atlantic's initial entry into the Chinese social media giant, which has since grown significantly in valuation through private market transactions. The 2017 investment occurred during a period of rapid expansion for ByteDance. General Atlantic referenced this early valuation in recent 2026 announcements about selling part of its stake at a much higher $550 billion valuation. |
| Apr 2017 | Series D | CCB International (lead); HSG (lead); Qiming Venture Partners; Altimeter Capital; Hony Capital; K3 Ventures | $1B | $11B | - |
| Jun 2014 | Series C | HSG (lead); Weibo; Source Code Capital | $100M | $500M | ByteDance, founded in 2012 by Zhang Yiming, initially launched Toutiao, an AI-powered news aggregation platform with personalized content recommendations. By 2014, Toutiao had secured USD 100 million in Series C funding, achieving 120 million users and 40 million monthly active users. The investors for this specific round match HSG (Hillhouse), Source Code Capital, and Weibo, aligning with the query's details around March 6, 2014. ByteDance expanded rapidly post-2014, launching user-generated content features like Toutiaohao and diversifying into apps such as Douyin (Chinese TikTok). The company generates revenue primarily through advertising (about 60%), e-commerce commissions, and live streaming virtual gifts via its recommendation engine. In subsequent years, ByteDance's scale increased dramatically, with 2020 revenue at $34.3 billion (111% YoY growth), 2022 surpassing $80 billion, 2024 at an estimated $155 billion, and 2025 projected at $186 billion. International revenue rose to 25% of total in 2024, driven by TikTok's U.S. operations at $27 billion. As of November 2024, ByteDance's valuation was estimated at $300 billion, backed by investors including Susquehanna International Group, Primavera Capital, KKR, SoftBank, Sequoia, General Atlantic, and Hillhouse. |
Who has invested in ByteDance?
16 investors have backed ByteDance across its funding rounds, including HSG, KKR, General Atlantic, Sequoia Capital, SoftBank Group and Qiming Venture Partners.
Lead investors include Capital Today, G42, KKR, Sequoia Capital, General Atlantic and 4 other investors.
ByteDance Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 New York City, NY | 2 | Lead | Oct 2018 | |
| New York City, NY | 2 | Lead | Aug 2017 | |
 Hong Kong | 2 | Lead | Jun 2014 | |
| Beijing | 1 | Participant | Dec 2020 | |
| Beijing | 1 | Participant | Jun 2014 | |
| Hong Kong | 1 | Lead | Apr 2017 | |
 Tokyo | 1 | Lead | Oct 2018 | |
| Shanghai | 1 | Participant | Apr 2017 | |
 Abu Dhabi | 1 | Lead | Mar 2023 | |
| San Francisco, CA | 1 | Participant | Apr 2017 | |
| Beijing | 1 | Lead | Oct 2018 | |
| San Francisco, CA | 1 | Lead | Dec 2020 | |
| Beijing | 1 | Participant | Apr 2017 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by ByteDance
ByteDance has acquired 17 companies to date.
Last acquisition by ByteDance was on December 18th 2025. ByteDance acquired TikTok (US operations) for $18B.
Latest Acquisitions by ByteDance
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} TikTok (US operations) | |||||
| Description | TikTok USDS is a joint venture operating the short-form video entertainment application in the United States. | Oladance is a Shenzhen-based audio equipment manufacturer specializing in open-ear wearable headphones. Its products feature bone conduction technology for immersive sound during workouts and commutes. Models like Oladance OWS Pro deliver 16-hour battery life, IPX4 water resistance, and Bluetooth 5.2 connectivity. The company supplies earbuds with dual drivers for balanced bass and treble, targeting fitness enthusiasts and professionals. Oladance partners with retailers in North America and Europe for global distribution. | Yanxuan Technology is the developer behind Xingtu APP, a comprehensive mobile photo editing tool available on iOS and Android platforms. The app supports advanced retouching, filters, collages, and AI-enhanced effects, serving millions of users worldwide for professional-grade image manipulation. | Mushu Information develops and operates an e-commerce platform for second-hand goods trading, facilitating transactions in electronics, fashion, and home items. The service includes user verification, secure payments, and logistics integration for nationwide delivery. Headquartered in Beijing, it targets urban consumers seeking affordable pre-owned products in China. | |
| HQ Country | | | | | |
| HQ City | - | Hong Kong | Beijing | Dalian | |
| Deal Date | 18 Dec 2025 | 13 May 2024 | 13 Mar 2023 | 7 Dec 2022 | |
| Valuation | $18B | $50M | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Investments by ByteDance
ByteDance has invested in 37 companies to date.
Latest investment by ByteDance was on July 27th 2026. ByteDance invested in TabTin in their $9M Angel round.
Latest Investments by ByteDance
| Description | TabTin is a software developer that builds foundational artificial intelligence infrastructure and constructs technology platforms, including a workspace that unites human users with multiple digital agents in one environment. | X Square is a Hangzhou-based robotics firm developing embodied AI models for humanoid robots. Established in 2023, it trains large vision-language-action models on 1 million hours of manipulation data, powering Unitree H1 dexterous tasks. The platform unifies perception, planning, and control for warehouse automation. X Square collaborates with Alibaba Cloud for GPU training clusters. | Yitu Technology is a Beijing-headquartered AI company deploying computer vision and machine learning in security, healthcare, and smart cities. Its products include facial recognition systems used in public safety projects across China and intelligent diagnosis tools for medical imaging. | X Square is a Hangzhou-based robotics firm developing embodied AI models for humanoid robots. Established in 2023, it trains large vision-language-action models on 1 million hours of manipulation data, powering Unitree H1 dexterous tasks. The platform unifies perception, planning, and control for warehouse automation. X Square collaborates with Alibaba Cloud for GPU training clusters. | |
| HQ Country | | | | | |
| HQ City | Shanghai | Shenzhen | Shanghai | Shenzhen | |
| Deal Date | 27 Jul 2026 | 28 Jun 2026 | 28 Jan 2026 | 12 Jan 2026 | |
| Round | Angel | Series C | Series A | Series A | |
| Raised | $9M | undisclosed | undisclosed | $144M | |
| Investors | - | Xiaomi; IDG Capital; China Mobile Chain Builder Fund; Meituan; CICC Capital; Alibaba Cloud; Fortune Venture Capital; HSG; Source Code Capital | E-Jun Capital; Hefei Binhu Financial Investment; Ruicheng Fund; Yunqi Partners; Co-Stone Venture Capital; Volcano Engine | Wuxi Innovation Investment Group; Nanshan War Xintou; Beijing Information Industry Development Investment Fund; Shenzhen Capital Group; HSG | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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ByteDance Competitors
ByteDance competitors include listed companies like Kakao, Match Group and Life360, and private ones like Miaopai, Telegram and Kakao Japan.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Beijing | Private | - | - | $3B | - | |
| Dubai | Private | - | - | $30B | - | |
 South Korea | Publicly listed | $5.9B | $1.1B | $11B | 0.9x | |
| United States | Publicly listed | $3.5B | $939M | $10B | 3.7x | |
| Tokyo | Private | - | - | $7.3B | - | |
| United States | Publicly listed | $489M | $32M | $3.3B | 5.0x |
ByteDance Public Comps
ByteDance is still privately-owned, but its public comps include Tencent, Reddit, Bending Spoons, LY Corporation, NAVER, Kuaishou, Kakao, Pinterest, Match Group and Meta.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $112B | $51B | 4.5x | 4.2x | 9.9x | 9.9x | |||
| $2.2B | $545M | 12.1x | 8.7x | 48.9x | 20.1x | |||
| $2.6B | $520M | 11.0x | - | 54.9x | - | |||
| $13B | $3B | 2.8x | 2.6x | 11.9x | 10.3x | |||
| $8.8B | $2.2B | 2.3x | 2.1x | 9.0x | 9.3x | |||
| $21B | $4.1B | 0.7x | 0.7x | 3.4x | 4.5x | |||
| $5.9B | $1.1B | 0.9x | 0.9x | 4.8x | 4.1x | |||
| $4.2B | $361M | 2.4x | 2.2x | 28.5x | 7.3x | |||
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Common questions about ByteDance
| When was ByteDance founded? | ByteDance was founded in 2012. |
| Where is ByteDance headquartered? | ByteDance is headquartered in Beijing, China. |
| Is ByteDance publicly listed? | No, ByteDance is a private, VC-backed company. |
| What is ByteDance's valuation? | ByteDance was last valued at $480B in its secondary sale in November 2025. |
| How much funding has ByteDance raised? | ByteDance has raised $8.1B across 5 funding rounds. |
| What was ByteDance's last funding round? | ByteDance's last funding round was a $2B undisclosed-stage round in December 2020, led by KKR and Sequoia Capital. |
| Who are ByteDance's investors? | ByteDance's investors include KKR, General Atlantic, HSG, CPE, Weibo, CCB International, SoftBank Group, Qiming Venture Partners, G42, Altimeter Capital and 6 others. |
| What is ByteDance's revenue? | ByteDance's latest recorded revenue is $186B (November 2025). |
| What is ByteDance's revenue multiple? | ByteDance's latest valuation implies a 2.6x revenue multiple ($480B valuation on $186B of revenue). |
| Which companies are comparable to ByteDance? | Companies comparable to ByteDance include Miaopai, Telegram, Kakao, Match Group, Kakao Japan and Life360. |
| How many companies has ByteDance acquired? | ByteDance has acquired 17 companies, including TikTok (US operations), Oladance, Yanxuan Technology, Mushu Information and Amcare Women's and Children's Hospital. |
| What was the largest acquisition by ByteDance? | The $18B acquisition of TikTok (US operations) in December 2025 is the largest acquisition ByteDance has made to date. |
| How many companies has ByteDance invested in? | ByteDance has invested in 37 companies, including TabTin, X Square, Yitu Technology, Ning Ji, KidariStudio, Oriental Honghu, Senior Auto and iMile. |
| What was ByteDance's last investment? | In July 2026, ByteDance invested in TabTin's $9M angel round. |
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