ByteDance, TikTok’s Parent Company, Valued at Over $330 Billion

TrendLoop

ByteDance, the parent company of TikTok, has set its valuation at more than $330 billion, reaffirming its position as one of the world’s most valuable tech firms. The move highlights the company’s strong global influence despite facing regulatory challenges in several markets.

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00:00TikTok owner ByteDance is set to launch an employee share buyback that will value the firm at over $330 billion.

00:09That's according to Reuters sources.

00:12The move would come as ByteDance consolidates its position as the world's largest social media company by sales.

00:19The sources said its revenue grew 25% on the year over the second quarter, hitting about $48 billion.

00:26But its valuation is still far short of the $1.9 trillion accorded to Facebook parent Meta.

00:35Analysts largely put the gap down to uncertainty over TikTok's future in the US.

00:41Congress last year passed a law requiring ByteDance to divest its operations in the country by mid-January.

00:48That was over concerns regarding its data on 170 million US users.

00:54But Donald Trump has repeatedly pushed back that deadline, and said last week that he could delay again.

01:02We have buyers, American buyers, we have American buyers.

01:06And I haven't spoken to President Xi about it at the right time when we're set, I'll do it.

01:10In the meantime, until the complexity of things work out, we just extend a little bit longer.

01:17If TikTok's US business is sold, it's expected to be owned by a joint venture featuring American investors,

01:25while ByteDance retains a minority stake.

01:28Now the share buyback could help to bolster morale for the firm's US employees,

01:33who have been anxious over its future in the country.

01:37TikTok has reportedly been working on a standalone app for users there,

01:41but it remains unclear how its status in the US will be resolved.

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