ByteDance Prepares Subsidiary Dongchedi for IPO With a Valuation of $3 Billion, Potentially the First Public Listing for TikTok Parent

Although Chinese social media conglomerate ByteDance has not yet pursued a public listing, one of its subsidiaries is racing toward an IPO. ByteDance, the highest valued private company globally with a conservative estimate of its valuation at US225 billion, is seeking financing for its automotive information and trading platform…