ByteDance, the Chinese internet tech company behind the social media app TikTok, is valuing itself at $300 billion, according to a recent report by The Wall Street Journal. The figure makes it the highest-valued startup in the world.
Reportedly, ByteDance set the valuation with its recent buyback share offer to investors. The company is offering approximately $180 a share as part of the offer.
With each buyback share offer, the valuation of TikTok has been trending upwards. Its most recent effort, which came in December 2023, offered $160 a share and valued the company at $268 billion. In October 2023, as part of the tender offer to employees, the figure stood at $225 billion.
The move comes amid uncertainty about whether TikTok will be available to users in the United States in 2025. ByteDance received an ultimatum to sell the app by mid-January 2025 or face a ban as part of legislation approved in April. The company is currently fighting the legislation and filing a lawsuit with the U.S. federal court in May.
A number of suitors are waiting in line in case ByteDance changes its mind and decides to sell TikTok, which has around 170 million users in the United States. The list includes real-estate mogul Frank McCourt and Shark Tank star Kevin O’Leary.