BRIEF: ByteDance reaches $315 billion valuation in latest share buyback
ByteDance, parent of short-video sensation TikTok, was set to conduct a share buyback this week that values it at $315 billion, a record for the company, according to Reuters.
Citing unnamed sources, Reuters reported on Wednesday that ByteDance informed its U.S. employees that it priced its latest share buyback offer at $189.90 per share. That represents an increase of about 11% compared to last year’s $171 and a 4.9% rise from the $181 per share it offered six months ago. The report said ByteDance’s valuation has largely recovered after taking a hit over threats of a U.S. TikTok ban.
Last year, the U.S. passed a law requiring ByteDance to sell TikTok’s U.S. operations by Jan. 19 this year or face a ban in the country, citing national security risk. However, after taking office in January, U.S. President Donald Trump postponed the enforcement of the ban by 75 days. TikTok currently has 170 million users in the U.S. and has attracted multiple potential bidders, including Reddit (RDDT.US) co-founder Alexis Ohanian and popular YouTube creator MrBeast (Jimmy Donaldson). But ByteDance has not indicated it intends to sell the TikTok U.S. operation.
By Lee Shih Ta
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