ByteDance Proposes $5 Billion Share Buyback Amid Regulatory Challenges

Despite setbacks, the TikTok parent company sees a 30% revenue increase in 2022, maintaining its position among the world's most valuable companies.

ByteDance, the parent company of TikTok, is proposing a buyback of up to $5 billion from investors, offering $160 per share, which values the company at $268 billion.
This valuation is about 11% lower than the rate ByteDance proposed in 2022, but still keeps the company among the top 40 most valuable global public companies and third in China.
Despite facing challenges in pursuing an IPO due to regulatory crackdowns in China and scrutiny abroad, ByteDance continues to excel, with a 30% revenue increase in 2022, exceeding $80 billion.
ByteDance's gaming and virtual reality expansions failed, prompting the company to scale back to its core business, primarily TikTok and its Chinese counterpart Douyin.
The company is also facing scrutiny over TikTok's links with China by US lawmakers, and has faced significant hurdles in key markets like India and the U.S.