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 well-liked 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 mentioned, citing unidentified individuals with information of the matter. TikTok can be banned within the US beneath a federal regulation until ByteDance sells the app to an American proprietor by mid-January.
ByteDance’s valuation has climbed in a collection of buybacks, the Journal mentioned, noting a valuation of virtually $225 billion in a young supply to workers in October 2023. A December 2023 buyback boosted the valuation to $268 billion, the Journal mentioned, citing an organization electronic 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 can be difficult, Trump’s election victory “significantly improves the picture for TikTok — no question about it,” former Nationwide Safety Company Basic Counsel Glenn Gerstell mentioned in an interview with Bloomberg.
