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TikTok parent company ByteDance is now valuing itself at approximately $300 billion, according to sources and documents obtained by Reuters.
ByteDance has yet to announce plans for an IPO. I Photo: ByteDance
The valuation comes as ByteDance approaches investors for its latest share buyback program, offering a price of $180.70 per share, representing a 12.9% increase from the $160 per share price in its December 2023 buyback.
The Wall Street Journal first reported the news, and ByteDance has conducted three buyback programs since 2022.
In its last program, the company purchased $5 billion worth of shares at a valuation of $268 billion. ByteDance, which achieved a 30% revenue growth in 2023, generating $110 billion, has yet to announce plans for an IPO.
One source indicated that the buybacks serve as a liquidity mechanism for the company. Meanwhile, ByteDance continues to face legal challenges, including disputes over its U.S. operations.
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