ByteDance will launch TikTok’s New York listing within 12 months

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According to Reuters and CNBC and other media reports on September 18, Bytedance will submit TikTok’s listing application within 12 months, and TikTok’s initial public offering (IPO) is set to be New York. In response, ByteDance has not yet responded.

Naijatechnews previously reported that TikTok is a subsidiary of Bytedance, responsible for operating the most well-known overseas short video product TikTok under the Bytedance Group. According to the legal documents that ByteDance sued the US government, as of July this year, TikTok’s monthly active users worldwide have reached 689 million, of which monthly active users in the United States and Europe exceed 100 million. As of August this year, TikTok’s total global downloads have exceeded 2 billion times.

It is reported that TikTok will conduct a round of financing of no more than 20% before listing, and consider introducing strategic partners. TikTok hopes to become a public company through IPO, complete the adjustment of corporate governance structure, and increase corporate transparency.

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