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4h ago

ByteDance Plans Fall Employee Buyback at $200.41, Topping $330 Billion Valuation

U.S. pressure to force a TikTok divestment by Sept. 17 keeps a possible sale to an American-led investor group in focus.

The ByteDance logo is seen at the company's office building in Shanghai, China July 4, 2023. REUTERS/Aly Song/File Photo
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Overview

  • ByteDance is preparing a new employee share repurchase offering $200.41 per share, a 5.5% increase from six months ago, according to Reuters reporting.
  • The planned buyback, expected in the fall, would value the company at more than $330 billion based on figures shared by people familiar with the matter.
  • Second-quarter revenue was reported at about $48 billion, up roughly 25% year over year, consolidating ByteDance’s lead as the top social-media company by sales.
  • A U.S. law requires divestment of TikTok’s U.S. assets, and President Donald Trump has extended the deadline to Sept. 17 and said U.S. buyers were lined up, per Reuters.
  • If a sale proceeds, sources say TikTok’s U.S. business would likely be owned by a joint venture of American investors including SIG, General Atlantic, KKR and Andreessen Horowitz, with ByteDance holding a minority stake and Blackstone no longer in the group.