Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
General Atlantic plans ByteDance stake sale at $550bn valuation - report
(Sharecast News) - Investment firm General Atlantic is reportedly selling an equity stake in ByteDance in a deal that values the Chinese social media giant at $550bn, marking a sharp rise in the privately held shares. The potential divestment will be the first since President Donald Trump's administration cleared the sale of the US interests of ByteDance's TikTok unit in January, and marks a 66% jump in value since a share buyback last year priced the company at more than $330bn.
General Atlantic, which first invested in ByteDance in 2017 when the company was valued at about $20bn, started the sale process in recent weeks and hopes to close the sale in March, the Reuters news service reported, citing unnamed sources.
Details of the financial terms of the stake sale, General Atlantic's shareholding in ByteDance, and how much the New York-based investment firm will own in the social media company after the transaction were not immediately known.
The proposed transaction underscores a sharp and sustained rise in the private market valuation of ByteDance, and bolsters the prospects for its other investors who are expected to enjoy a windfall when the company eventually makes its public market debut.
ByteDance's market value is opaque since the shares are privately held, and deal terms for the secondary market trades are not publicly disclosed.
Internally, General Atlantic has valued its ByteDance holding at $550bn, a source with knowledge of the matter said.
The proposed sale follows ByteDance's deal to make TikTok's American operations majority US-owned and resolve uncertainties that have plagued both companies since Trump threatened to ban the app over national security concerns.
General Atlantic's share sale comes as some of its funds approach the end of their lifecycle, a source said. Private equity firms typically have about 10-12 years to raise capital, invest in a fund, and return it back to investors.
General Atlantic's CEO Bill Ford currently sits on ByteDance's board.
Venture capital firm HSG, formerly Sequoia Capital China, is separately raising a continuation fund that will take over some of its ByteDance shares held by funds that are reaching maturity at a valuation of between $350bn - $370bn.
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
