Nikkei Asia columnist Henny Sende wrote that ByteDance is unlikely to go public in the near future. ByteDance’s board of directors came to this conclusion at a meeting in early May, according to two people familiar with the matter. A person with direct knowledge of the board of directors' thinking said that ByteDance's valuation will only get higher and higher. Why does Zhang Yiming want to go public?
ByteDance’s shares are valued at more than $600 billion in private markets.
A senior technology investment banker at Bank of America said this makes it entirely possible for ByteDance to reach a market value of US$1 trillion, which is becoming a new benchmark.
The author believes that Byte's decision to postpone the listing reflects the confidence of Chinese entrepreneurs and investors in its most innovative company.
The author predicts that there is reason to expect that ByteDance's eventual listing, likely in Hong Kong, will trigger a change in market sentiment toward other Chinese technology companies and the market as a whole. At the same time, venture capitalists will also be looking for the next ByteDance.