TikTok guardian 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 common social-media app’s presence within the US, the Wall Avenue Journal reported Saturday.
The valuation got here in a latest buyback supply by ByteDance, the Journal mentioned, citing unidentified individuals with data of the matter. TikTok can be banned within the US below 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 mentioned, noting a valuation of just about $225 billion in a young supply to staff 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 not too long ago advised it’s a foul 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 Common Counsel Glenn Gerstell mentioned in an interview with Bloomberg.
