3 ms·
60% of Bytedance is owned by American investors https://www.nytimes.com/2024/03/26/technology/tiktok-investors-bytedance.html https://www.nytimes.com/2024/03/26
by shalmanese 2y ago
60% of Bytedance is owned by American investors https://www.nytimes.com/2024/03/26/technology/tiktok-investors-bytedance.html https://www.nytimes.com/2024/03/26/technology/tiktok-investo...
> Susquehanna, a global trading firm, first invested in ByteDance in 2012 and now owns roughly 15 percent of the company, a person familiar with the investment said. The Chinese arm of Sequoia Capital, a Silicon Valley venture capital firm, invested in ByteDance in 2014 when it was valued at $500 million. Sequoia’s U.S.-based growth fund later followed suit.
> General Atlantic, a private equity firm, invested in ByteDance in 2017 at a $20 billion valuation. Bill Ford, General Atlantic’s chief executive, has a seat on ByteDance’s board of directors. The company’s other notable U.S. investors include the private equity firms KKR and the Carlyle Group, as well as the hedge fund Coatue Management.
- wordofx 2y agoLiterally does not matter. ByteDance is a Chinese company and beholden to the CCP.
- solaarphunk 2y agoJust like US companies are beholden to national security letters that can compel them to spy on non-US persons who may be users of their product?
- Dylan16807 2y agoIf other countries ban US websites for specifically that reason, I applaud them. Especially if they do it without being hypocritical.
- est 2y agoChina will not only ban American companies or services next, Xi will probably ban the US dollar.
- seanmcdirmid 2y agoThat won’t happen. China would be more angry if the USA all of a sudden didn’t let them participate in treasury auctions.
- est 2y agoYou know there's a rumor saying Trump/Xi would trade Taiwan with US treasury bonds.
- wordofx 2y agoThe funny thing is. China can talk about removing the U.S. dollar and trade when Yen. But they need a stable currency to convert between and so conversion is still done with the U.S. dollar. The U.S. dollar won’t be removed from trade in our life time.
- seanmcdirmid 2y agoChina doesn’t let the RMB float freely, so trade still happens in dollars. Also, the American government buys a lot of treasuries, so it’s easy to save a few billion quickly when you need to, which isn’t really supported by any other currency…saving money by lending it to the USG conversely prevents it from re-entering your own economy and stoking inflation (China isn’t the only country to use the USA like that, Japan buys more treasuries than China usually).
- arcticbull 2y agoNo, not like that.
- sschueller 2y agoYes, it's exactly like that.
- OWMYT 2y agoAre you suggesting that only a "perfect" government gets to counter the Chinese government's attacks?
- solaris152000 2y agoIt's name in English is the Communist Part of China, CPC not CCP.
- richrichardsson 2y agoThis shit winds me up no end. It feels almost like propaganda in itself, to evoke CCCP connotations. It would be like if I just decided to start unilaterally referring to a "Language to Markup Hyper-Text" (LMHT) instead of its correct name. tbf though, even the BBC can't get it right : https://www.bbc.com/news/articles/cvg68vyz9lgo https://www.bbc.com/news/articles/cvg68vyz9lgo
- xanderlewis 2y agoExactly. I've never heard someone use 'CPC' before. It's quite obvious why the alternative isn't liked.
- catlikesshrimp 2y agoApparently, the official CPC is pro-stablishment, unsurprisingly, while the common CCP is anti-stablisment https://chinamediaproject.org/2023/03/30/ccp-or-cpc-a-china-watchers-rorschach/ https://chinamediaproject.org/2023/03/30/ccp-or-cpc-a-china-...
- supernetworks_ 2y agoI have been assuming that the ownership is in the Cayman company and it is analogous to the situation with VIEs. The ownership would have no votes on controlling the company but only ownership for hypothetical dividends on profit from the cayman shell. If anybody knows otherwise please elucidate us. Oddly enough Snapchat IPOd with stocks with zero control as well.