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ByteDance Said to Weigh Sale of Stake in Sneaker Reseller Poizon

  • TikTok owner engaged in talks with Poizon’s existing backers
  • Online footwear marketplace is valued at over $10 billion

ByteDance Ltd. is considering selling a minority stake in Poizon, an online marketplace for sneakers, according to people familiar with the matter.

The TikTok owner has engaged in talks about a sale of a low single-digit percentage-point stake, and would prefer to sell to an existing investor, the people said. Poizon, formally known as Shanghai Shizhuang Information Technology Co., is valued at more than $10 billion, they said, asking not to be identified discussing a private matter.