ByteDance Said to Be Raising $600 Million for Car App Dongchedi
- HongShan, KKR, General Atlantic, Gaorong are joint investors
- TikTok parent reviewing businesses amid pressure from the US
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ByteDance Ltd. is raising as much as $600 million for its car information and trading platform Dongchedi, according to people familiar with the situation.
General Atlantic, HongShan, KKR & Co. and Gaorong Ventures are joint investors in the fundraising round, which values Dongchedi at close to $3 billion, the people said, asking not to be identified discussing a private matter.