TikTok's parent company ByteDance recently offered investors $180.7 per share through a share buyback program, valuing it at about $300 billion.
The US Congress's "sell or ban" spin-off bill for TikTok stipulates that if ByteDance does not sell TikTok to a US owner by mid-January, TikTok will be banned from operating in the US.
The Wall Street Journal (WSJ), citing unnamed people familiar with the matter, reported that ByteDance recently made a buyback offer.
Bytedance's valuation has been boosted by a series of buybacks. Based on the company's buyback offer to employees in October 2023, it values itself at around $225 billion. Another buyback in December of that year valued it at $268 billion.
Us President-elect Donald Trump once supported a ban on TikTok, but has since changed his tune. Glenn Gerstell, former chief counsel of the National Security Agency, said in an interview with Bloomberg that Trump's victory has undoubtedly significantly improved TikTok's prospects, and that they will face a president who has publicly expressed support for lifting the ban on TikTok.
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