Amid govt crackdown on Chinese firms, ByteDance exits DailyHunt parent
Shortpedia
Content Team
Image Credit: china admission
As VerSe Innovation planned to expand its leadership in the homegrown social media market, it had raised $805 Mn at a valuation of $5 Bn in April 2022. In the same round, TikTok-backer ByteDance had reportedly exited the company. According to a Mint report, ByteDance sold its entire stake to new investors Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan Board (OTPPB).
