ByteDance Valuing Itself at $300 Billion Amid U.S. TikTok Ban Threat

November 16, 2024: ByteDance, the Chinese parent company of TikTok, is now valuing itself at around $300 billion, following a recent buyback offer, according to the Wall Street Journal. The company is offering to repurchase shares for about $180 each.

This comes as TikTok faces the threat of being banned in the U.S. due to national security concerns. Despite the uncertainty, some investors are hopeful, especially after former President Donald Trump spoke positively about the app. In a June interview, Trump said competition from TikTok is important, even though he had previously called it a security risk.

In April, U.S. President Joe Biden signed a law giving ByteDance until January 19, 2025, to sell TikTok or face a potential ban. While the U.S. government wants to end Chinese ownership of TikTok, it has not pushed for a total ban on the app.