On Saturday, TechCrunch reported, citing The Wall Street Journal, that ByteDance Ltd., the parent company of TikTok, is now valued at $300 billion. This marks a significant increase in the company’s valuation, up from $225 billion in October 2023 to $268 billion later that year, ultimately reaching the $300 billion mark.
TikTok’s operations in the United States have faced challenges due to heightened scrutiny during Donald Trump’s presidential campaign. In April, President Joe Biden signed legislation allowing for a potential ban on TikTok in the U.S. if ByteDance fails to divest the platform. ByteDance was given a nine-month deadline to complete the sale, with the President having the option to extend it by an additional three months.
In response to the divestment demand, ByteDance filed a lawsuit against the U.S. government, contesting the order.
During his first term, Trump had called for a TikTok ban but later reversed his stance, suggesting he would “save” TikTok in the U.S. Prominent investor Jeff Yass, a major stakeholder in ByteDance, reportedly met with Trump to persuade him against banning TikTok services during his presidency.
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