Bytedance, the company behind the massively popular news aggregation app Jinri Toutiao, is considering a Hong Kong IPO that may value it at over $45 billion, according to media reports. The company would join a wave of Chinese tech listings which has been growing during the past six months.
However, at noon on July 10th, Bytedance responded to market rumors saying that the company had no plans and made no arrangements for listing at present, The Paper reports. The report did, however, note that Bytedance recently launched a shiny new official website in several languages that lists its technology and products, investment and cooperation deals, and more.
Although the company has not always been favored among Chinese regulators—its joke app Neihan Duanzi got shot down in April permanently and is not the only time it got in trouble with officials—Bytedance’s rise has seemed unstoppable.
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