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TechCheck

The U.S. Money Invested in TikTok, Plus Reddit Readies its IPO 3/14/24

TechCheck

CNBC

Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.566 Ratings

🗓️ 14 March 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

A significant amount of U.S. money is invested in TikTok parent company ByteDance, including Carlyle Group, KKR, GGV, Sequoia, Tiger Global and more. Former Treasury Secretary Steve Mnuchin will likely have to go through them in his plans to put together a group to buy TikTok. Plus, Reddit’s IPO roadshow is underway. We break down what industry experts are now saying it could mean for the IPO pipeline.

Transcript

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0:00.0

As a possible ban on Tik-Toc inches closer to reality and former Treasury Secretary

0:04.9

Minutian could be a potential buyer.

0:07.1

Our dear de Bosa is looking at some of the American players invested in by dance for today's

0:11.5

tech check. Hey, Dee.

0:13.8

Hey, good morning, Carl.

0:14.6

So it is already backed by a significant amount of US money.

0:18.7

From the biggest and most well-known PE firms

0:20.9

to venture capital to crossover funds.

0:22.9

The list, according to Pitchbook, includes

0:24.8

Carlisle Group and KKR, GGB, Sequoia, Tiger Global,

0:28.8

Kuto, many others.

0:30.4

Now they've also watched it become the most valuable private company in the world

0:34.5

valued at $268 billion just a few months ago. So if the former Treasury

0:40.4

Secretary does want to put together a group to buy

0:43.2

Tik-Tok he will likely have to go through many of those players and answer a key

0:47.3

question what is Tik-Tok worth without bite dance without that all important algorithm,

0:53.6

which has really been the key, the secret sauce

0:56.3

to Tik-Tok's success.

0:57.6

Now here is Manushin on Squawk Box this morning.

1:00.6

It's worth a lot of money, let me just say. I think the number one issue that needs to be solved is the technology transfer.

1:08.0

And if we can figure out a way to solve that, which I think we can, then I think the price is some large amount of money

1:16.0

up front and probably a big earn out, because you're right, the business, my understanding,

...

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