Data: eMarketer, Axios research; Note: Meta, Pinterest, Reddit and Snapchat multiples were derived from global ad revenue forecasts, while TikTok U.S. was calculated using U.S. ad revenue projections. Chart: Axios Visuals
ByteDance's fire sale deal to sell TikTok U.S. dramatically undervalues the asset compared to other ad-supported social media giants.
Why it matters: The new U.S. entity, valued at only $14 billion, is a clear sign of how desperate ByteDance was to sell the app to avoid potential legal battles over U.S. national security law that would have banned the app if it wasn't sold.