HONG KONG — In the United States, the fortunes of giant social media companies such as Facebook and Twitter have wobbled as they have been blamed for abetting abusive discourse and hosting malicious political influence campaigns.

But in China, the titans of social media are still getting bigger and richer.

Bytedance, the creator of the news aggregator Jinri Toutiao, the video-sharing service Tik Tok and a fleet of other entertainment apps, is in discussions to raise new funding that would value the business at $75 billion, according to people familiar with the matter who requested anonymity to discuss confidential talks.

The Japanese conglomerate SoftBank is among the investors involved in the talks, one of these people said.

A $75 billion valuation would make Bytedance one of the world’s most valuable private tech companies — Uber was recently valued at $76 billion. It would also give Bytedance financial heft comparable to that of some publicly traded high-tech leaders. Baidu, maker of China’s dominant search engine, has a market capitalization of around $80 billion.