ByteDance, the Chinese language firm that owns TikTok, valued itself at $300 billion in a latest share buyback supply, in response to a brand new report in The Wall Avenue Journal.
That quantity would possibly sound acquainted, because the WSJ beforehand reported on a ByteDance buyback supply at a $300 billion valuation again in September 2022. However a 12 months later, the corporate’s valuation had reportedly fallen 26%, to $223 billion.
TikTok’s prospects in america could also be trying up following the election of Donald Trump to his second time period as US president.
In April, President Joe Biden signed a invoice that might ban TikTok from america if ByteDance did not promote the short-form video app. The corporate was given 9 months to make the sale, with the president given the choice to increase the deadline by an additional three months. (ByteDance is suing the US authorities over the ban.)
Whereas Trump had additionally known as for a TikTok ban throughout his first time period, he has subsequently posted that he’ll “SAVE TIK TOK IN AMERICA,” and Republican megadonor Jeff Yass is a serious ByteDance investor.
