For Top VCs, ByteDance’s Historic Windfall Remains A $220 Billion Mirage

It’s the biggest venture capital profit haul that no one wants to talk about.

ByteDance – the Chinese parent company of social media app TikTok – is the world’s most valuable startup. Even at a valuation of $220 billion, down from a peak of $500 billion in the secondary market in 2021, it’s not even close. (SpaceX, Elon Musk’s rocket company, slots in second at $140 billion.)

For its investors, some of whom backed the company when it was still valued in the millions, an eventual ByteDance public offering would mean billions, and even tens of billions of dollars, in profits, instantly vaulting their investments into the ranks of the top VC bets of all time… Read Full Article