TikTok owner ByteDance offers to buy back shares from staff at $160 apiece
The price valued the company at $223.5 billion, about 26 per cent lower than a valuation a year earlier, the Reuters report said. Last year, ByteDance was valued at $300 billion in a buyback program offered to its non-U.S. employees.
A ByteDance spokesperson confirmed the share buyback plan for employees outside the U.S., saying it aimed to provide liquidity options for staff through such programs. (Image credit: Reuters)