ByteDance, the parent company of TikTok, has set its valuation at approximately $300 billion.
The valuation arises from the company’s latest share buyback program, offering investors $180.70 per share—marking a 12.9% increase from its previous buyback price of $160 per share in December 2023-Reuters first reported.
This is ByteDance’s third share repurchase initiative since 2022, as the company continues to provide liquidity to its investors in the absence of an initial public offering (IPO).
The prior buyback valued ByteDance at $268 billion, and the current program reflects growing confidence in the company’s financial performance and prospects.
The buyback comes as ByteDance reported a 30% increase in global revenue last year, reaching $110 billion, driven by the sustained popularity of TikTok and its expanding portfolio of digital platforms. However, the company has refrained from setting a timeline for a public market debut, according to sources.
The news was first reported…