TikTok dad or mum ByteDance Ltd. is valuing itself round $300 billion, one of many highest valuations ever for the Chinese language tech firm, even because it fights to keep up its fashionable social-media app’s presence within the US, the Wall Avenue Journal reported Saturday.
The valuation got here in a current buyback supply by ByteDance, the Journal stated, citing unidentified individuals with data of the matter. TikTok could be banned within the US underneath a federal regulation except ByteDance sells the app to an American proprietor by mid-January.
ByteDance’s valuation has climbed in a sequence of buybacks, the Journal stated, noting a valuation of just about $225 billion in a young supply to workers in October 2023. A December 2023 buyback boosted the valuation to $268 billion, the Journal stated, citing an organization e-mail to buyers seen by the paper.
President-elect Donald Trump as soon as favored the pending TikTok ban however has extra lately prompt it’s a nasty concept. Although any reversal or softening of the ban could be difficult, Trump’s election victory “considerably improves the image for TikTok — no query about it,” former Nationwide Safety Company Common Counsel Glenn Gerstell stated in an interview with Bloomberg.
