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The company behind Chinese news aggregator Toutiao, and short video apps Douyin/Tik Tok, is apparently seeking a new funding round at a US$75 billion valuation.
This will pit Alibaba against Tencent, which backs Kuaishou, in the short-video war
Bytedance’s overseas-oriented products, including Tik Tok and Musical.ly, have, to date, raked in more than 100 million of monthly active users.
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