Despite ongoing US regulatory pressure, specifically concerning the potential ban of @TikTok_US, parent company @ByteDanceTalk announced record profits in their 2022 results last week, as reported by investors. The key results, highlighted by @TheEconomist and @FT are as follows:
- EBITDA: Increased by 79% YoY to $25bn in 2022
- 150 million users in the US alone
- ByteDance's international business (including TikTok): $15bn in sales
- China revenues: $70bn
ApeVue has noted significant institutional activity in ByteDance, with over $2bn in Sell Indications and more than $1bn in Buy indications in the last month. With a composite price of just under $140/share, the question remains: will ByteDance continue to attract additional institutional investors in spite of the looming regulatory concerns?
Adjusted for inflation (2022):
House - $81,949
Average Income - $36,373
New Car - $18,071
Average Rent - $567 / mo
Harvard Tuition - $8,825 / yr
Movie Ticket - $5.25
Gas - $2.10 / gal
Via @PitchBook - As of today, SaaS vertical deal count is 1199...
As Q1'23 comes to a close, we are on pace for ~4800 SaaS deals. This would be below 2014's count (5461)...
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SCOOP: Stripe has lowered the target valuation in its fundraise to $50B from $55B, underlining investors' leverage.
w/ @coryweinberg
https://t.co/r8qXBqC2Ak
"93% of respondents said they expect secondary transaction volume to exceed $100 billion and 40% said they anticipate volumes that surpass $150 billion by the end of 2023" 👀
Multifamily real estate investment manager Bridge Investment Group agrees to acquire Newbury Partners, a $4.3B private equity secondaries firm. Total secondary market transaction volume in 2021: $130B. 93% expect >$100B in 2023, 40% >$150B.
https://t.co/NH8vsrrNHi