American private equity firm General Atlantic is preparing yet another "choreography" with ByteDance . And this new step, still restricted to behind-the-scenes dealings, has brought to light a billion-dollar dance of numbers.
According to Reuters , citing sources close to the companies, General Atlantic is in talks to sell part of its stake in the Chinese social media giant TikTok , in a deal that values the company at $550 billion.
If finalized on these terms, the agreement will translate into a 66% jump in ByteDance's valuation since the company implemented a share buyback program in 2025, which valued its business at over US$330 billion.
At the same time, the sale of General Atlantic's stake will also represent a 15% increase compared to another transaction carried out by the Chinese giant in the secondary market, after the first share buyback, when, according to sources, it was valued at US$480 billion.
The relationship between General Atlantic and ByteDance began in 2017, when the investment firm made its first investment in the company, which was then valued at approximately US$20 billion.
The process of selling part of the shares in the operation, in turn, began in recent weeks and the expectation is that the transaction will be completed in March. However, there are no details about the stake that the asset manager will retain in the social media company after this outcome.
This sharp increase in value reinforces the prospect for other ByteDance investors of obtaining significant returns when the company finally debuts on the capital market. The group's cap table also includes names such as KKR, Susquehanna International Group, and Primavera Capital Group.
Discussions regarding the sale of General Atlantic's stake are taking place as some of the asset manager's funds approach the end of their cycle. Generally, these vehicles have about 10 to 12 years to raise capital, invest, and generate returns for investors.
From ByteDance's perspective, this would be the first deal since the company finalized the sale of TikTok's operations in the United States, thus avoiding a ban on the app in the American market after a dispute that had dragged on for almost six years.
The deal in question involved the participation of American and global investors, such as Oracle, Silver Lake, and MGX, which acquired an 80.1% stake in the new company. ByteDance, in turn, retained a 19.9% stake in this American operation.
Throughout 2025, in parallel with this saga, ByteDance surpassed Meta , owner of Instagram and Facebook, and became the largest social media company in revenue, according to Reuters . The agency also highlighted that the company may have closed the year with a profit of around US$48 billion.
