TikTok parent ByteDance’s valuation hits $300 billion: Report

The existent connection terms is an summation of 12.9% from the per stock terms of $160 successful their past bargain backmost program. The quality astir the valuation was earlier reported by the Wall Street Journal.

ByteDance did not person immoderate IPO program successful sight, 1 of the sources said, adding that the buyback programme is simply a mode to supply Bytedance with liquidity.

This is the 3rd bargain backmost programme for investors from Bytedance, which has been conducting stock buybacks since 2022.

The institution successful Dec 2023 offered to buyback astir $5 cardinal worthy of shares from investors astatine a terms of $160 each, which valued the institution astatine $268 billion.

ByteDance had been readying to transportation retired the buyback programme careless of the result of the U.S. statesmanlike election, different root said, declining to beryllium identified.

ByteDance, whose planetary gross grew 30% past twelvemonth to $110 billion, has been facing a ineligible conflict implicit its U.S. assets.

A instrumentality signed by U.S. President Joe Biden connected April 24, gives ByteDance until Jan. 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. Both TikTok and ByteDance declined to comment.