Core Viewpoint - The article discusses the recent acquisition of a stake in ByteDance by Xu Xin, referred to as the "Queen of Venture Capital," highlighting the competitive auction process and the implications for ByteDance's valuation [2]. Group 1: Acquisition Details - Xu Xin successfully acquired a portion of ByteDance's shares for nearly $300 million, which was a significant increase from the initial auction price of around $200 million, raising ByteDance's valuation to $480 billion (approximately 3.4 trillion RMB) [2][6]. - The auction involved seven bidders, with Xu Xin's firm, Today Capital, being one of the key participants [2]. Group 2: Valuation Context - ByteDance's valuation of $480 billion positions it as the second highest-valued startup globally, surpassing SpaceX, which is valued at approximately $400 billion [6]. - Market research indicates that ByteDance's valuation has been adjusted upwards by various investment firms, with estimates ranging from $400 billion to $450 billion in late 2022 [7]. - The company's revenue for Q2 2025 is projected to exceed $43 billion, with a year-on-year growth of 25%, making it the highest-grossing social company globally [7]. Group 3: Historical Perspective - Xu Xin reflected on a past opportunity to invest in ByteDance when it was valued significantly lower, indicating a missed chance due to a lack of understanding of the business model at that time [4]. - The article emphasizes the importance of recognizing high-growth companies early in their development cycle, particularly in relation to technological advancements [8].