ByteDance

Amount: Approx. USD 1.8B; Post-money valuation: Approx. USD 180B; Led by: KKR / Sequoia / General Atlantic | This is ByteDance's last primary market financing to date. Subsequently, the company largely stopped raising new capital, instead managing its equity structure through periodic employee stock buybacks + secondary trades among investors—resetting implied valuations without issuing new shares. This mechanism is similar to companies like Stripe and Revolut, but on the largest global scale. | Source: Investor reports + Public compilations