Coatue Considers Selling Part of ByteDance Stake as IPO Remains Uncertain

New York investment firm Coatue Management, an early and substantial backer of ByteDance that has a seat on the TikTok parent’s board, is discussing selling part of its stake, according to three people with knowledge of the talks.

The firm has talked to brokers in the secondary market for private stocks to gauge the interest of potential buyers. It is considering selling hundreds of millions of dollars worth of shares, out of its multibillion-dollar stake, two of the people said. But Coatue only wants to sell if it can get a price that values ByteDance at between $230 billion and $240 billion, one of the people said.