ByteDance, the Chinese language corporate that owns TikTok, valued itself at $300 billion in a up to date proportion buyback be offering, consistent with a brand new record in The Wall Boulevard Magazine.
That quantity would possibly sound acquainted, because the WSJ in the past reported on a ByteDance buyback be offering 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 possibilities in the USA is also taking a look up following the election of Donald Trump to his 2nd time period as US president.
In April, President Joe Biden signed a invoice that may ban TikTok from the USA if ByteDance did not promote the short-form video app. The corporate used to be given 9 months to make the sale, with the president given the solution to prolong the time limit by way of an additional 3 months. (ByteDance is suing the United States executive over the ban.)
Whilst Trump had also known as for a TikTok ban all the way through his first time period, he has due to this fact posted that he’s going to “SAVE TIK TOK IN AMERICA,” and Republican megadonor Jeff Yass is a big ByteDance investor.
