TikTok parent ByteDance’s valuation hits $300 billion amid US ban uncertainty, WSJ reports
- TikTok's Chinese parent company ByteDance is valuing itself at about $300 billion after a recent buyback offer, the Wall Street Journal reported on Saturday, even as the tech giant's popular TikTok app faces the prospect of a looming ban in the U.S.
ByteDance investors have viewed President-elect Donald Trump’s return to the White House as an overall positive for TikTok’s hopes in the U.S., as per the report. A law signed by U.S. President Joe Biden on April 24, gives ByteDance until Jan. 19 to sell TikTok or face a ban. The White House has said it wants to see Chinese-based ownership ended on national-security grounds but not a ban on TikTok.Both TikTok and ByteDance did not immediately respond to a Reuters request for comment.
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