TikTok’s parent company, ByteDance Ltd., has reached an estimated valuation of $300 billion, one of the highest ever for the Chinese tech giant, despite its ongoing battle to keep TikTok operational in the US. According to the Wall Street Journal, this valuation was set during a recent buyback offer, citing unnamed sources familiar with the matter.
The buyback marks a significant climb from ByteDance’s previous valuations — $225 billion in October 2023 and $268 billion in December 2023. These figures were determined through tender offers to employees and subsequent buybacks, demonstrating steady investor confidence in the company’s global reach and profitability.
The valuation surge comes as TikTok faces a potential ban in the US unless ByteDance sells the app to an American owner by mid-January. The move is part of federal efforts to address national security concerns tied to the app’s Chinese ownership.
While the Biden administration initially pursued a hardline stance on TikTok, President-elect Donald Trump’s recent opposition to the ban has introduced uncertainty. His victory “significantly improves the picture for TikTok — no question about it,” said Glenn Gerstell, former General Counsel for the National Security Agency, in an interview with Bloomberg.
Despite the regulatory challenges, ByteDance’s soaring valuation reflects its resilience and TikTok’s status as a global social media powerhouse.