There are bad startups, there are good startups and there are some few legendary ones. When it comes to value, many people think that uber is the best startup that with highest value and it was true until a couple of days ago because Bytedance took their place at top of the most valuable startup companies in the world.
This startup is a Chinese company and most of you know them indirectly because Bytedance is the owner of super popular app called tik tok and many people have given up to its catchy and addictive style and approach to social media content.
how did Bytedance got to the top?
At the moment, uber has the net worth around 72 billion us dollars but since Bytedance was able to get a new fund from soft bank for 3 billions, their net worth has raised above uber and now they have an estimated net worth of 75 billion which makes them the most valuable startup company in the world. This is not only because of funding from soft bank but they have secured findings from multiple sources in current year and this has led them into the top.
It was not easy to reach there though because this startup was founded around 6 years ago and after a huge amount of hard work and executing brilliant ideas, they have finally made their way to the top. This can be a wakeup call for United states because trade war between USA and china is getting bigger every day and this is a solid evidence that unlike what president trump assumes, the whole world of business is not evolving around them and startup is something beyond borders and political approaches.
Bytedance and revenue
Bytedance has earned 2.5 billion $ revenue in their last financial year’s report and they are willing to improve their business to and grow their funding into 7.2 billion at the end of 2018. This might seem hard but by the rise of their popularity, we will most likely see this estimation turn into reality which is a great deal of new horizon for startup world.
What do you think will happen next, when will we see startups with more than 100 billion net worth? Will startup companies be able to gain profit beyond 10 billion? Please leave us a comment dwon below and let us know what you think about this change in power ranking.