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ByteDance: the world's most valuable startup

With a new investment of $3 billion, China's ByteDance has become the most valuable startup in the world. ByteDance is owned by the popular Karaoke VideoApp TikTok and the present value of the startup is $75 billion. Musical.Ly has acquired TikTok before merging with ByteDance and has become a sensation among the users. Even though ByteDance made $2.5 billion profit last year, it's position is not yet profitable.