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Reading: ByteDance Bounces Back: Self-Valuation Hits $300B Mark
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ByteDance Bounces Back: Self-Valuation Hits $300B Mark

Rary Maharani
Last updated: November 21, 2024 1:10 am
Rary Maharani
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1 Min Read
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  • ByteDance values itself at $300 billion
  • TikTok faces U.S. sale mandate
  • Trump promises platform protection

Contents
Money MovesPolitical Plot TwistTrump Card

Money Moves

ByteDance has placed its self-valuation at $300 billion during a recent share buyback program, The Wall Street Journal reports. This marks a significant rebound from last year’s $223 billion figure – a 26% drop from a similar buyback offer in September 2022.

Political Plot Twist

The TikTok landscape stands at a crossroads under current U.S. regulations. President Biden’s April legislation mandates ByteDance to sell TikTok or face a U.S. ban, giving the company a nine-month deadline plus a potential three-month extension.

Trump Card

The social media giant’s future could shift dramatically. Former President Trump, previously advocating for a TikTok ban, now pledges to “SAVE TIK TOK IN AMERICA.”

This stance gains additional weight through Republican megadonor Jeff Yass’s substantial ByteDance investment.

TAGGED:div5

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