General Atlantic is selling a stake in ByteDance that values the company at $550B, Echo Wang and Kane Wu of Reuters reports, citing two people with knowledge of the matter. This potential stake divestment will be the first since the Trump administration cleared the sale of U.S. interest of ByteDance’s TikTok in January. General Dynamic hopes to close the sale in March, sources added. Publicly traded companies in the social media space include Meta Platforms (META), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
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