Based on information from sources with inside knowledge of the situation, Sequoia Capital China is currently in the midst of creating a continuation fund. The plan is to purchase a segment of ByteDance's shares, with the company's valuation set between US$350 billion and US$370 billion. ByteDance's valuation has been on a relentless upward trajectory. In the second quarter of 2025, its revenues soared to US$48 billion, representing a remarkable 25% increase compared to the same period the previous year. In the global social media landscape, ByteDance has now eclipsed Meta, emerging as the highest - grossing social media firm worldwide. Projections indicate that its annual net profit will reach a staggering US$48 billion. It's worth noting that Sequoia Capital China made a strategic investment in ByteDance back in 2014. Since then, its founder, Neil Shen, has continued to serve as a member of ByteDance's board of directors.