General Atlantic Sells ByteDance Stake Valuing $550B

Investment firm General Atlantic is selling an equity stake in ByteDance that values the Chinese tech giant at $550 billion, Reuters reported on Feb. 25, citing people familiar with the planned sale. The divestment, aimed to close in March, would be the first since the U.S. cleared a sale of TikTok's U.S. business in January and reflects a 66% jump from a $330 billion valuation last year.