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TikTok owner ByteDance offers to buy back shares from staff at $160 apiece

Economic Times · 1y

ByteDance, the parent company of TikTok, is offering to buy back shares from its employees outside the United States for $160 per share. This offer is in line with the one made to US employees in October. The buyback program aims to provide liquidity options for staff and allows them to cash in their shares without waiting for the company to go public. Previously valued at $300 billion, the current price values ByteDance at $223.5 billion. The company has stated that it has no imminent plans for an IPO due to increased scrutiny from the Chinese government.