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ByteDance, the Chinese company that owns TikTok, valued itself at $300 billion in a recent stock buyback offer, according to New report in the Wall Street Journal.
This number may sound familiar, like the Wall Street Journal I mentioned previously On ByteDance’s buyback offer at a $300 billion valuation in September 2022. But a year later, the company’s valuation reportedly fell 26% to $223 billion.
TikTok’s prospects in the US may improve after Donald Trump is elected to a second term as US President.
In April, President Joe Biden signed a bill that would ban TikTok from the United States if ByteDance failed to sell the short-form video app. The company was given nine months to process the sale, with the president given the option to extend the deadline for an additional three months. (ByteDance is suing the US government over the ban.)
While Trump also called for a TikTok ban during his first term, he later posted that he would “save TikTok in America,” and Republican megadonor Jeff Yass is… Major investor in ByteDance.
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