TikTok’s parent company, China’s ByteDance, has reached a valuation of approximately $300 billion following the completion of a share buyback program, Reuters reports, citing sources and documents.
In its latest buyback, ByteDance offered investors $180.70 per share—12.9% higher than the $160 per share offered in a previous buyback program.
Sources indicate that ByteDance has no immediate plans for an IPO, opting instead to maintain liquidity through share buybacks. This marks the company’s third buyback since 2022. In December, ByteDance repurchased shares valued at $5 billion at $160 per share, bringing its valuation to $268 billion at the time.
ByteDance’s global revenue surged by 30% in 2023, reaching $110 billion. However, the company faces ongoing legal challenges in the United States. President Joe Biden signed a law on April 24 requiring ByteDance to sell its U.S. TikTok operations by January 19, 2025, or face a potential ban.
Both ByteDance and TikTok declined to comment on the developments.
