$300 Billion ByteDance

ByteDance, the parent company of TikTok, is now valued at $300 billion. It recently launched a share buyback program, offering $180.70 per share, up 12.9% from its previous $160 offer in December 2023.

This marks ByteDance’s third buyback since 2022, aimed at providing liquidity to investors. Despite the rising valuation, there’s no plan for an IPO, according to insiders.

In 2023, ByteDance generated $110 billion in revenue, growing 30% year-on-year. However, it’s facing pressure in the U.S. A law signed by President Biden requires ByteDance to sell TikTok by January 19, 2025, or face a ban due to national security concerns over Chinese ownership.

ByteDance has filed a lawsuit to block the law, with no resolution yet. Both ByteDance and TikTok declined to comment on the valuation or ongoing legal challenges.