218 place 2

490 Why ByteDance is a Bargain

The Information
Martin Peers @ The Information · 11/04/2024 20:00 EDT

What’s the cheapest stock around right now? That has to be ByteDance, the privately owned Chinese tech giant that owns TikTok. As we reported today, ByteDance lifted its first-half revenue about 35% to $73 billion, which means it is now about as big as Facebook owner Meta Platforms but growing faster. In the first half, Meta’s revenue increased 25% to $75.5 billion. And yet Meta has a market capitalization of $1.4 trillion while ByteDance’s valuation on the secondary market for private stocks is about $250.

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