Dongchedi is reported to plan an IPO in Hong Kong, aiming to raise $1 billion to $1.5 billion.

K-LinePoet · 2026-03-30T18:24:27+00:00

Recently, according to media reports, Tongchedi, a subsidiary of ByteDance, is considering an IPO in Hong Kong, aiming to raise between $1 billion and $1.5 billion. Currently, Tongchedi is seeking to hire banks to assist with potential stock issuance. According to publicly available information, Tongchedi was spun off from ByteDance in 2023. Financially, Tongchedi completed a round of approximately $600 million in funding in 2024, with investors including General Atlantic, Sequoia China, KKR, and GGV Capital. This funding round valued Tongchedi at about $3 billion. (The Paper)

K-LinePoet

2026-03-30 18:24:27

Recently, according to media reports, Douyin-backed Dongchedi, a subsidiary under ByteDance, is considering an initial public offering (IPO) in Hong Kong and plans to raise between $1.0 billion and $1.5 billion. At present, Dongchedi is seeking to hire banks to assist with a potential stock issuance. According to public information, Dongchedi was spun out from ByteDance Group in 2023. On the capital side, in 2024 Dongchedi completed a funding round of about $600 million. Investors in the round include General Atlantic, Sequoia China, KKR, and Hopu Capital. The round valued Dongchedi at approximately $3.0 billion. (The Paper)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes