TikTok owner estimates his company ByteDance at $300 billion

TikTok's parent company ByteDance estimated its value at $300 billion in a recent share buyback offer, The Wall Street Journal reports.

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This is similar to the company's valuation back in September 2022. However, a year later, ByteDance's value dropped by 26% to $223 billion.

TikTok's prospects in the US may change after Donald Trump returns to the presidency.

In April, President Biden signed a law banning TikTok unless ByteDance sells the app. However, if Trump returns to power, his stance on TikTok may be less harsh, as he has previously stated that he supports keeping the platform in the US. One of the company's key investors is influential Republican Jeff Yass.

Source: The Wall Street Journal