TikTok’s Chinese parent company ByteDance is valuing itself at about $300 billion after a recent buyback offer, The Wall Street Journal reported Saturday, even as the tech giant’s popular TikTok app faces the prospect of a looming ban in the United States. The TikTok parent in recent days told investors it was looking to buy back shares at about $180 a share, the newspaper said. ByteDance investors have viewed President-elect Donald Trump\u2019s return to the White House as an overall positive for TikTok\u2019s hopes in the U.S., as per the report. At a Bloomberg BusinessWeek interview in June, Trump said, “I\u2019m for TikTok because you need competition. If you don\u2019t have TikTok, you have Facebook and Instagram.” Trump had previously called TikTok a national security threat but soon after he, too, joined the platform, which is used by about 170 million Americans. A law signed by U.S. President Joe Biden on April 24 gives ByteDance until January 19 to sell TikTok or face a ban. The White House has said it wants to see Chinese-based ownership ended on national-security grounds but not a ban on TikTok. TikTok and ByteDance sued in U.S. federal court in May, seeking to block the law signed by Biden. TikTok and ByteDance did not immediately respond to a Reuters request for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"
TikTok’s Chinese parent company ByteDance is valuing itself at about $300 billion after a recent buyback offer, The Wall Street Journal reported Saturday, even as the tech giant’s popular TikTok app faces the prospect of a looming ban in the United States. The TikTok parent in recent days told investors it was looking to buy […]<\/p>\n","protected":false},"author":495,"featured_media":25437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[],"class_list":["post-25436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-america"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/25436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/495"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=25436"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/25436\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/25437"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=25436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=25436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=25436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}