Biggest Private Companies Are Tik Tok’s Byte Dance and SpaceX

In July 2021, ByteDance reached a valuation of $425 billion for new private equity investors, according to Chinese technology news portal 36Kr. 36Kr showed three listings of stakes for sale in ByteDance.

In 2020, ByteDance more than doubled revenue to $34.3 billion. It posted $2.1 billion in operating losses and logged 1.9 billion users across its vast array of service. In September, 2021, Tik Tok announced they had over 1 billion active monthly users.

In June 2021, Facebook had 2.9 billion monthly active users, up 7% year over year. TikTok had a 45% increase in monthly active users since July 2020, when it had 689 million users. In July, 2021, TikTok became the first non-Facebook app to reach 3 billion global downloads.

Instagram, owned by Facebook, is shifting from photo sharing to short video clip sharing. Instagram video clip sharing service is heavily called Reels. Reddit and other are also trying to copy short-form video feeds.

Zhang Yiming is the founder of Tik Tok and he has a net worth of about $45 billion.

Chinese viral video platform Kuaishou Technology is publicly traded. It IPO at $110 billion but has dropped to about $50 billion in valuation.

SpaceX Second Biggest Private Company

SpaceX is the world’s second-largest private company. SpaceX has a new valuation of $100.3 billion which is up from $74 billion in February. SpaceX has an agreement with new and existing investors to sell up to $755 million in stock from company insiders at $560 a share.

Elon Musk owns 54% of SpaceX which means Elon has over $54 billion in SpaceX shares. Elon Musk now has a net worth of $222 billion which is $31 billion more than second-place Jeff Bezos ($191 billion). The 45th richest person has $31 billion.

The valuation of SpaceX will increase when the fully reusable Super Heavy Starship successfully flies to orbit and is used to rapidly expand the network of Starlink satellites. SpaceX will also increase in value with new lower-cost versions of the Starlink antennas. This will lower the costs for people starting with Starlink and mass production of new dishes will increase the adoption rate of Starlink customers. Those improvements could enable SpaceX to onboard a million Starlink customer every month or two in second half of 2022. This will be up from 100,000 total customers now and 20,000 Starlink customers added every month. Starlink customers are paying $99 per month for the service or about $1200 per year.

SOURCES- CNBC, Bloomberg, Nikkei
Written By Brian Wang,