The Chinese parent company of TikTok, ByteDance, has launched a new share repurchase program for its U.S. employees, offering to buy back shares at a higher valuation than six months ago, Reuters reported on Tuesday.
The company has informed its U.S.-based employees that it is offering $189.90 per share, an 11% increase from last year’s buyback price of $171 per share and up from $181 per share six months ago. According to another source, the new valuation could place ByteDance’s worth at approximately $315 billion, signaling a rebound after its valuation dip in 2023.
ByteDance’s regular share repurchase programs highlight the company’s robust financial standing, fueled by its expanding domestic and global operations. However, its flagship app, TikTok, continues to face regulatory pressure in the United States, where lawmakers have raised national security concerns over its Chinese ownership.
Last year, Congress passed legislation requiring ByteDance to divest TikTok by January 19 or risk a ban in the U.S. The app, which boasts 170 million American users, briefly shut down before President-elect Donald Trump granted a temporary reprieve, delaying the enforcement of the ban by 75 days.
Trump assigned Vice President JD Vance to oversee the matter, and discussions are ongoing to find a resolution that would allow TikTok to continue operations in the country.
Amid this uncertainty, several high-profile bidders have emerged, eager to gain control of TikTok’s U.S. operations. A bid led by former Los Angeles Dodgers owner Frank McCourt has gained backing from Reddit co-founder and venture capitalist Alexis Ohanian.
Another group, led by tech entrepreneur Jesse Tinsley, includes YouTube star MrBeast (Jimmy Donaldson) and Wyoming businessman Reid Rasner.
