ByteDance Boosts Buyback: Valuation Vaults
TikTok’s parent company, ByteDance, is set to value itself at over $330 billion for a new employee share buyback program, according to multiple sources. The report was covered by Reuters.
The company posted nearly $48 billion in revenue in the second quarter of this year, marking a 25% increase, primarily driven by the Chinese market. This growth positions ByteDance as the world’s leading social media company in terms of revenue, surpassing Meta’s $42.3 billion for the same period.
For the upcoming buyback program, employee shares are priced at $200.41, representing a 5.5% increase compared to six months ago. The program is scheduled to launch this autumn.
