TikTok parent ByteDance’s valuation hits $300 billion: Report

TikTok’s parent company ByteDance is valuing itself at about $300 billion, after it recently approached investors about a share buyback program, according to two people familiar with the matter and a document viewed by Reuters.

ByteDance reached out to investors in recent weeks, offering a price of $180.70 per share, the people said.

The current offer price is an increase of 12.9% from the per share price of $160 in their last buy back program. The news about the valuation was earlier reported by the Wall Street Journal.