ByteDance, which was founded in 2012 by 29-year-old software engineer Zhang Yiming, is reportedly in talks with investors for new funding that can value the startup at $75 billion market valuation. In comparison, Uber Technologies Inc. is currently valued at $72 billion according to The New York Times. ByteDance's venture into its billions-worth valuation started when then 29-year-old Zhang launched Toutiao by using artificial intelligence to provide a more customer-centered news experience. The investors were lukewarm to the startup at this time because it has to compete with news platforms supported by Tencent Holdings Ltd and Alibaba Group Holding Ltd especially that Zhang preferred not to have both Tencent and Alibaba on board as its investors. Amid strict Chinese regulators, Zhang continued to adjust its algorithm to deliver news content to its users. Ly to Tik Tok which currently has half a billion of users. According to Forbes, his net worth is currently at $4 billion. Read more