{"id":6185,"date":"2022-10-16T14:06:35","date_gmt":"2022-10-16T18:06:35","guid":{"rendered":"https:\/\/cdialumni.ecademydj.com\/?p=6185"},"modified":"2022-10-16T14:06:35","modified_gmt":"2022-10-16T18:06:35","slug":"cotation-et-transparence","status":"publish","type":"post","link":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/","title":{"rendered":"Cotation et transparence"},"content":{"rendered":"

Par Dominique Jacquet<\/strong><\/h3>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

Le 9 octobre, apparaissait sur Internet, source parfaitement fiable d\u2019informations financi\u00e8res, la nouvelle pr\u00e9occupante d\u2019une perte de plus de 75 milliards de dollars US dans les comptes de ByteDance, fondateur et propri\u00e9taire du c\u00e9l\u00e8bre r\u00e9seau TikTok. Le lendemain, nous \u00e9tions rassur\u00e9s\u00a0: il ne s\u2019agit (apparemment\u2026) \u00ab\u00a0que\u00a0\u00bb de la perte de valeur constat\u00e9e par ByteDance sur des obligations convertibles en actions TikTok.<\/p>\n

 <\/p>\n

Il faut profiter d\u2019une information confidentielle transmise au Wall Street Journal pour en savoir un peu plus sur la performance financi\u00e8re de ByteDance. Selon un rapport financier destin\u00e9 aux salari\u00e9s (et aimablement transmis au WSJ), la firme a g\u00e9n\u00e9r\u00e9 des revenus de 61,7 milliards de dollars en 2021 et 7 milliards de pertes op\u00e9rationnelles. La croissance ph\u00e9nom\u00e9nale de TikTok se poursuit pendant le premier trimestre comptable 2022 ,au rythme de 54%. TikTok n\u2019est d\u00e9pass\u00e9 que par Facebook en termes de nombre d\u2019utilisateurs r\u00e9guliers.<\/p>\n

 <\/p>\n

Apr\u00e8s avoir \u00e9voqu\u00e9 une entr\u00e9e en bourse, la soci\u00e9t\u00e9 d\u00e9cide en juillet 2022 de repousser le processus \u00e0 une date non sp\u00e9cifi\u00e9e, puis de d\u00e9penser 3 milliards de dollars en rachetant ses propres actions d\u00e9tenues par ses employ\u00e9es sur la base de $176,94 par action, valorisant l\u2019entreprise \u00e0 hauteur de 300 milliards de dollars, apr\u00e8s avoir accord\u00e9 des actions (Restricted Stock Units<\/em>) \u00e0 ses employ\u00e9s en juin sur la base de $155 par action.<\/p>\n

 <\/p>\n

La vie financi\u00e8re de ByteDance est donc un roman, mais dont on ne peut lire quelques extraits qu\u2019au compte-goutte et sans disposer d\u2019une information claire, compl\u00e8te (ou presque) et v\u00e9rifi\u00e9e, ce qui serait le cas si la firme \u00e9tait cot\u00e9e en bourse.<\/p>\n

 <\/p>\n

En fait, elle n\u2019a pas apparemment besoin des march\u00e9s de capitaux, car elle dispose de fonds apport\u00e9s par le Private Equity<\/em>.<\/p>\n

 <\/p>\n

ByteDance a \u00e9t\u00e9 cr\u00e9\u00e9 en 2012 et a re\u00e7u un soutien financier des firmes d\u2019investissement asiatiques et am\u00e9ricaines au premier rang desquelles KKR, Sequoia, SoftBank Vision Fund ou Primavera.<\/p>\n

 <\/p>\n

En avril 2017, elle encaisse un milliard de dollars de financement pour une valorisation pre-money<\/em> de 10 milliards (Sequoia et CCB). SoftBank se joint \u00e0 KKR et Primavera en octobre 2018 pour apporter 3 milliards de dollars sur un valorisation de 72\u00a0: multiple de 7 en 18 mois\u2026 En d\u00e9cembre 2020, dernier appel au march\u00e9, l\u2019apport est de 2 milliards de la part de KKR et Sequoia sur une base de 178 milliards. Un beau retour sur investissement pour les fonds\u00a0!<\/p>\n

 <\/p>\n

Les temps ont chang\u00e9 depuis la p\u00e9riode o\u00f9 une mise en bourse \u00e9tait n\u00e9cessaire pour lever pr\u00e8s de 10 milliards de dollars. Mais, lorsque les fonds n\u2019\u00e9taient pas requis pour assurer le financement de la croissance, d\u2019autres motivations conduisaient les entreprises sur les march\u00e9s.<\/p>\n

 <\/p>\n

En 1986, Microsoft entre en bourse et l\u00e8ve 61 millions de dollars, Bill Gates conservant 45% du capital pour une valeur de 350 millions de dollars\u2026 Une motivation invoqu\u00e9e \u00e9tait une sorte d\u2019obligation \u00ab\u00a0commerciale\u00a0\u00bb\u00a0: avec l\u2019ambition de devenir le fournisseur de la quasi-totalit\u00e9 des syst\u00e8mes d\u2019exploitation des PC dans le monde, la firme devait montrer qu\u2019elle \u00e9tait robuste financi\u00e8rement et capable de poursuivre son effort de R&D afin d\u2019am\u00e9liorer la qualit\u00e9 des produits. La cotation r\u00e9pondait donc \u00e0 un objectif de transparence dans une logique op\u00e9rationnelle.<\/p>\n

 <\/p>\n

En 2012, date de la cr\u00e9ation de ByteDance, Facebook entre en bourse avec une valorisation sup\u00e9rieur \u00e0 100 ann\u00e9es de r\u00e9sultat\u2026 la firme est rentable et g\u00e9n\u00e8re un r\u00e9sultat net de l\u2019ordre de 25% des revenus. De plus, la tr\u00e9sorerie est largement positive (4 milliards nets de dette) et le cash-flow finance les investissements. Mais, les investisseurs souhaitent \u00ab\u00a0voir leur TRI\u00a0\u00bb et Mark doit payer ses imp\u00f4ts\u2026<\/p>\n

 <\/p>\n

Rien de tel pour ByteDance, la soci\u00e9t\u00e9 g\u00e9n\u00e8re des pertes, va probablement faire appel \u00e0 ses investisseurs si elle doit financer 3 milliards de rachat d\u2019actions, mais toujours pas d\u2019IPO et les relations de la Tech chinoise avec son gouvernement ne vont certainement pas acc\u00e9l\u00e9rer le processus.<\/p>\n

 <\/p>\n

Le prix de ce maintien en statut priv\u00e9 est que l\u2019on ne sait (presque) rien d\u2019une firme qui vaut entre 300 et 400 milliards de dollars et dispose d\u2019un pouvoir consid\u00e9rable avec environ 1,5 milliards d\u2019utilisateurs.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Par Dominique Jacquet     Le 9 octobre, apparaissait sur Internet, source parfaitement fiable d\u2019informations financi\u00e8res,…<\/p>\n","protected":false},"author":2,"featured_media":6181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-classifiee"],"acf":[],"yoast_head":"\nCotation et transparence - CDI Alumni E-Cademy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cotation et transparence - CDI Alumni E-Cademy\" \/>\n<meta property=\"og:description\" content=\"Par Dominique Jacquet     Le 9 octobre, apparaissait sur Internet, source parfaitement fiable d\u2019informations financi\u00e8res,…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/\" \/>\n<meta property=\"og:site_name\" content=\"CDI Alumni E-Cademy\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-16T18:06:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdialumni.ecademydj.com\/wp-content\/uploads\/2022\/10\/buttontiktok.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"438\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Marc Desjardins\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"Marc Desjardins\" \/>\n\t<meta name=\"twitter:label2\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/\"},\"author\":{\"name\":\"Marc Desjardins\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#\\\/schema\\\/person\\\/1893bb41d192a8b07bf39a5fae101cc0\"},\"headline\":\"Cotation et transparence\",\"datePublished\":\"2022-10-16T18:06:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/\"},\"wordCount\":740,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/buttontiktok.webp\",\"articleSection\":[\"Non classifi\u00e9(e)\"],\"inLanguage\":\"fr-FR\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/\",\"url\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/\",\"name\":\"Cotation et transparence - CDI Alumni E-Cademy\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/buttontiktok.webp\",\"datePublished\":\"2022-10-16T18:06:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/buttontiktok.webp\",\"contentUrl\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/buttontiktok.webp\",\"width\":768,\"height\":438},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/2022\\\/10\\\/16\\\/cotation-et-transparence\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cotation et transparence\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#website\",\"url\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/\",\"name\":\"CDI Alumni E-Cademy\",\"description\":\"Cr\u00e9ation de formations num\u00e9riques corporatives en finances contemporaines\",\"publisher\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#organization\",\"name\":\"E-Cademy Dominique Jacquet\",\"url\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/newisolatedlogodj1b.jpg\",\"contentUrl\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/newisolatedlogodj1b.jpg\",\"width\":924,\"height\":254,\"caption\":\"E-Cademy Dominique Jacquet\"},\"image\":{\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/#\\\/schema\\\/person\\\/1893bb41d192a8b07bf39a5fae101cc0\",\"name\":\"Marc Desjardins\",\"url\":\"https:\\\/\\\/cdialumni.ecademydj.com\\\/fr\\\/author\\\/mdesjardins\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cotation et transparence - CDI Alumni E-Cademy","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/","og_locale":"fr_FR","og_type":"article","og_title":"Cotation et transparence - CDI Alumni E-Cademy","og_description":"Par Dominique Jacquet     Le 9 octobre, apparaissait sur Internet, source parfaitement fiable d\u2019informations financi\u00e8res,…","og_url":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/","og_site_name":"CDI Alumni E-Cademy","article_published_time":"2022-10-16T18:06:35+00:00","og_image":[{"width":768,"height":438,"url":"https:\/\/cdialumni.ecademydj.com\/wp-content\/uploads\/2022\/10\/buttontiktok.webp","type":"image\/webp"}],"author":"Marc Desjardins","twitter_card":"summary_large_image","twitter_misc":{"\u00c9crit par":"Marc Desjardins","Dur\u00e9e de lecture estim\u00e9e":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/#article","isPartOf":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/"},"author":{"name":"Marc Desjardins","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#\/schema\/person\/1893bb41d192a8b07bf39a5fae101cc0"},"headline":"Cotation et transparence","datePublished":"2022-10-16T18:06:35+00:00","mainEntityOfPage":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/"},"wordCount":740,"commentCount":0,"publisher":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#organization"},"image":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/#primaryimage"},"thumbnailUrl":"https:\/\/cdialumni.ecademydj.com\/wp-content\/uploads\/2022\/10\/buttontiktok.webp","articleSection":["Non classifi\u00e9(e)"],"inLanguage":"fr-FR"},{"@type":"WebPage","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/","url":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/","name":"Cotation et transparence - CDI Alumni E-Cademy","isPartOf":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/#primaryimage"},"image":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/#primaryimage"},"thumbnailUrl":"https:\/\/cdialumni.ecademydj.com\/wp-content\/uploads\/2022\/10\/buttontiktok.webp","datePublished":"2022-10-16T18:06:35+00:00","breadcrumb":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/"]}]},{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/#primaryimage","url":"https:\/\/cdialumni.ecademydj.com\/wp-content\/uploads\/2022\/10\/buttontiktok.webp","contentUrl":"https:\/\/cdialumni.ecademydj.com\/wp-content\/uploads\/2022\/10\/buttontiktok.webp","width":768,"height":438},{"@type":"BreadcrumbList","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/2022\/10\/16\/cotation-et-transparence\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/cdialumni.ecademydj.com\/fr\/"},{"@type":"ListItem","position":2,"name":"Cotation et transparence"}]},{"@type":"WebSite","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#website","url":"https:\/\/cdialumni.ecademydj.com\/fr\/","name":"CDI Alumni E-Cademy","description":"Cr\u00e9ation de formations num\u00e9riques corporatives en finances contemporaines","publisher":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cdialumni.ecademydj.com\/fr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"},{"@type":"Organization","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#organization","name":"E-Cademy Dominique Jacquet","url":"https:\/\/cdialumni.ecademydj.com\/fr\/","logo":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#\/schema\/logo\/image\/","url":"https:\/\/cdialumni.ecademydj.com\/wp-content\/uploads\/2020\/01\/newisolatedlogodj1b.jpg","contentUrl":"https:\/\/cdialumni.ecademydj.com\/wp-content\/uploads\/2020\/01\/newisolatedlogodj1b.jpg","width":924,"height":254,"caption":"E-Cademy Dominique Jacquet"},"image":{"@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/cdialumni.ecademydj.com\/fr\/#\/schema\/person\/1893bb41d192a8b07bf39a5fae101cc0","name":"Marc Desjardins","url":"https:\/\/cdialumni.ecademydj.com\/fr\/author\/mdesjardins\/"}]}},"_links":{"self":[{"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/posts\/6185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/comments?post=6185"}],"version-history":[{"count":0,"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/posts\/6185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/media\/6181"}],"wp:attachment":[{"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/media?parent=6185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/categories?post=6185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cdialumni.ecademydj.com\/fr\/wp-json\/wp\/v2\/tags?post=6185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}