ByteDance, the company behind TikTok, has valued itself at $300 billion through a share buyback offer, according to a report by *The Wall Street Journal*. That puts ByteDance on par with the valuation the company established in September last year. In 2022, ByteDance’s valuation had declined 26% to $223 billion.
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The future of TikTok in the United States under Donald Trump has been different since he resumed his office for his second term as president. Some weeks ago, President Joe Biden signed a bill banning TikTok from the U.S.US unless ByteDance sells it. “The company has nine months to make the sale, with an option to extend the deadline by three more months.” In response to this ban, ByteDance sued the US government.
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Ironically, Trump, who is also said to have thundered demand for a ban on TikTok during his first term, has emerged as the biggest advocate. He has already declared that he wanted to “SAVE TIK TOK IN AMERICA, which may impact the app’s existence in the United States. Meanwhile, the key investor in ByteDance has made Jeff Yass, a prominent Republican donor, strengthen the company’s grip in the US market even more.
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ByteDance’s renewed $300 billion valuation underscores its global influence and TikTok’s enduring appeal despite legal and political hurdles, particularly in the United States.
