Paper: TikTok parent ByteDance’s value at $300 billion amid US ban uncertainty

TikTok's Chinese genitor institution ByteDance is valuing itself astatine astir $300 cardinal aft a caller buyback offer, The Wall Street Journal reported Saturday, adjacent arsenic the tech giant's fashionable TikTok app faces the imaginable of a looming prohibition successful the United States.

The TikTok genitor successful caller days told investors it was looking to bargain backmost shares astatine astir $180 a share, the paper said.

ByteDance investors person viewed President-elect Donald Trump’s instrumentality to the White House arsenic an wide affirmative for TikTok’s hopes successful the U.S., arsenic per the report.

At a Bloomberg BusinessWeek interrogation successful June, Trump said, "I’m for TikTok due to the fact that you request competition. If you don’t person TikTok, you person Facebook and Instagram." Trump had antecedently called TikTok a nationalist information menace but soon aft he, too, joined the platform, which is utilized by astir 170 cardinal Americans.

A instrumentality signed by U.S. President Joe Biden connected April 24 gives ByteDance until January 19 to merchantability TikTok oregon look a ban. The White House has said it wants to spot Chinese-based ownership ended connected national-security grounds but not a prohibition connected TikTok.

TikTok and ByteDance sued successful U.S. national tribunal successful May, seeking to artifact the instrumentality signed by Biden.

TikTok and ByteDance did not instantly respond to a Reuters petition for comment.