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TikTok mother or father ByteDance Ltd. is valuing itself round $300 billion, one of many highest valuations ever for the Chinese language tech firm, even because it fights to keep up its widespread social-media app’s presence within the US, the Wall Avenue Journal reported Saturday.
The valuation got here in a latest buyback provide by ByteDance, the Journal mentioned, citing unidentified individuals with data of the matter. TikTok can be banned within the US underneath a federal regulation except ByteDance sells the app to an American proprietor by mid-January.
ByteDance’s valuation has climbed in a sequence of buybacks, the Journal mentioned, noting a valuation of just about $225 billion in a young provide to workers in October 2023. A December 2023 buyback boosted the valuation to $268 billion, the Journal mentioned, citing an organization electronic mail to buyers seen by the paper.
President-elect Donald Trump as soon as favored the pending TikTok ban however has extra just lately urged it’s a foul concept. Although any reversal or softening of the ban can be difficult, Trump’s election victory “considerably improves the image for TikTok — no query about it,” former Nationwide Safety Company Basic Counsel Glenn Gerstell mentioned in an interview with Bloomberg.