• Term Sheet - Friday, December 7

    6 days ago - By Fortune

    TIK-TOK Good morning, Term Sheet readers.
    ByteDance, a China-based media and content giant that operates an ecosystem of apps, is in talks to raise more than $1 billion for its first venture fund to invest in artificial intelligence and media content, according to The Information.
    Never heard of ByteDance? With a valuation of $75 billion , it's the world's most valuable startup. (I know, hard to believe the world's most valuable tech startup is a media company ?) It largely owes its success to Toutiao, a wildly popular news aggregation app in China.
    In a time when U.S.-based media...
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  • TikTok parent ByteDance said to raise $1.45 billion for AI and content

    6 days ago - By Tech Crunch

    ByteDance, the Chinese company behind the immensely popular video app TikTok, is in talks to raise $1.45 billion for a new fund, The Information reported on Friday citing sources.
    The fresh vehicle will help power artificial intelligence and media content for the $75 billion startup that has leapfrogged Uber's valuation , the report said. ByteDance declined to comment on the matter.
    The Chinese startup has set off an aggressive global expansion that sees it merge teen video app Musical.ly into TikTok, which has 100 million and 500 million users , respectively. The upstart has compelled...
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