Tiktok Owner Plans Buyback, Boosting Valuation To Over $330B: Report
(MENAFN- AsiaNet News)
ByteDance, the parent company behind TikTok, reportedly plans to initiate a new employee share buyback program, which would place the tech giant's valuation at or above $330 billion.
According to a Reuters report citing individuals familiar with the matter, employees are likely to be offered $200.41 per share in the buyback, marking a 5.5% increase from the previous round earlier this year. At the time, the shares were valued at $189.90, giving the company a valuation of around $315 billion.
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