In China, Sequoia had financed the Tiktok parent company with venture capital.
(Photo: AP)
Dusseldorf Venture capitalist Sequoia plans to split up its business. The reason for this is the geopolitical tensions between the governments in Washington and Beijing. The renowned start-up financier is known worldwide for early investments in technology giants such as Google, Instagram and its video platform YouTube. In China, the company has provided venture capital to companies such as Tiktok, Bytedance and Alibaba.
The investment activities are considered to be one of the most successful and longest-running financing relationships between the USA and China. In the future, however, Sequoia wants to continue with three different companies. Outside of the USA and Europe, the famous brand is also to be abandoned. In China, Sequoia will be called Hongshan in the future.
>> Read here: The global face of Tiktok – who is CEO Shou Zi Chew?
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