Beijing-based technology company Bytedance, the owner of Chinese big data platform Toutiao, plans to raise $45 billion valuation in the initial public offering (IPO).
Bytedance may also hold off its IPO plans until the first quarter of next year.
Bytedance plans to make Toutiao a global content and technology conglomerate after Toutiao raised $3 billion in April 2017 for its expansion and achieved a valuation of $20 billion.
In March, Toutiao led a $200-million Series E investment in Beijing-based online education platform 17zuoye.com.