World’s Most Valuable Startup in 2018, Can You Name It?

World's Most Valuable Startup in 2018, Can You Name It?

World’s Most Valuable Startup in 2018, Can You Name It?

Most valuable Startup 2018
Your answer must be Uber, but alas it’s no longer the most valuable startup in 2018, it is not even a US company. You must be very surprised to know that it’s a Chinese company called Bytedance (parent of music video app TikTok). Yes! You heard it right.

According to Bloomberg & Forbes, the company has completed a $3 billion investment that values the company at $75 billion adding the round would put ByteDance’s valuation at $78 billion. Which is ahead of Uber’s most recent $72 billion valuations, although the giant next year would have a valuation of up to $120 billion.

How did it happen?

Bytedance raised $3 billion of funding from Softbank and other major investors making it the world’s biggest privately backed startup.

What makes it special? 

  • Bytedance owns one of the most successful social media apps of the decade. Started in 2016 in China as Douyin, the karaoke video app allows users to share 15-sec videos of themselves lip-syncing, cooking, dancing or just being silly.
  • 500 million TikTok’s global monthly users in July 2018.
  • 52 minutes average time a user spends on the app daily.
  • 40% Tiktok users are outside China.

Who’s worried?

Facebook, for sure. The Silicon Valley giant is building a competitor to TikTok called Lasso.

Who’s the main Bytedancer?

35-year-old Zhang Yiming who founded the startup in 2012. Holds a degree in software engineering from Nankal University. Worked at Microsoft.


Tip: If you have an idea just like Uber or Bytedance and need someone to build it for you? Let us help you. Wabodyrms IT Solutions is the most ideal & reliable partner to turn your dreams into reality.


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– Written by Roshan Koshy   Digital Marketing Specialists at Wabodryms IT Solutions.

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