Bytedance said to be valued at over $75B in new round

#1

Post by dsgerard » Fri, Sep 28, 2018, 1:51 PM UTC

Bytedance said to be valued at over $75B in new round
bloomberg.com

Re: Bytedance said to be valued at over $75B in new round

#2

Post by andruby » Fri, Sep 28, 2018, 2:41 PM UTC

I feel like I've been living under a rock. I've never heard of Bytedance. Is it mostly unknown in the western world?

Re: Bytedance said to be valued at over $75B in new round

#3

Post by tpetry » Fri, Sep 28, 2018, 2:42 PM UTC

andruby wrote: post #2

I feel like I've been living under a rock. I've never heard of Bytedance. Is it mostly unknown in the western world?

> Bytedance Ltd provides online information and contents. The Company serves customers in China.

Seems we never heard of it because we‘re not in their target market.

Re: Bytedance said to be valued at over $75B in new round

#4

Post by ReverseCold » Fri, Sep 28, 2018, 2:43 PM UTC

andruby wrote: post #2

I feel like I've been living under a rock. I've never heard of Bytedance. Is it mostly unknown in the western world?

It's a Chinese internet service, so it's unlikely that you've heard of it outside of China.

Re: Bytedance said to be valued at over $75B in new round

#5

Post by justicezyx » Fri, Sep 28, 2018, 2:43 PM UTC

The company is a click bait companies. The innovation they made is to use ml or automation to generate and push content that users are likely to click.

Re: Bytedance said to be valued at over $75B in new round

#6

Post by mrleiter » Fri, Sep 28, 2018, 2:44 PM UTC

andruby wrote: post #2

I feel like I've been living under a rock. I've never heard of Bytedance. Is it mostly unknown in the western world?

Among other platforms, they run musical.ly and TikTok.

Re: Bytedance said to be valued at over $75B in new round

#7

Post by superasn » Fri, Sep 28, 2018, 2:45 PM UTC

> Bytedance now faces questions over when or even how it will start making a profit.

$75B value and it still faces the most basic question. Makes me feel I don't understand business at all.

Also its main app seems to be musically. I have only heard of it but it seems a little to an app like Dubsmash. Did dubsmash ever make any money? What is the business model for such apps?

Re: Bytedance said to be valued at over $75B in new round

#8

Post by ranie93 » Fri, Sep 28, 2018, 2:45 PM UTC

andruby wrote: post #2

I feel like I've been living under a rock. I've never heard of Bytedance. Is it mostly unknown in the western world?

This was helpful: http://bytedance.com/products/

Re: Bytedance said to be valued at over $75B in new round

#9

Post by FLUX-YOU » Fri, Sep 28, 2018, 2:46 PM UTC

>35-Year-Old Unknown

First of all, that's rude.

Second, if they have a $75b valuation and no profit plan, that's not likely a good sign. I doubt China's P2P and venture capital markets are related, but I'd bet they gave a high valuation just to grab headlines. Also, it'll eventually get censored like everything else in China, so 'doing better than Baidu' is probably temporary.

Re: Bytedance said to be valued at over $75B in new round

#10

Post by mrleiter » Fri, Sep 28, 2018, 2:47 PM UTC

> But as with Facebook at the same stage of its life, Bytedance now faces questions over when or even how it will start making a profit.

Amazing. $75b valuation, loads of cash to run ops and not have your burn rate run you into the ground. Clearly the worth here lies in the apparently very strong AI they use to detect trends. Again, as with Shazam, detecting trends early is obviously quite valuable.