Byte Dance's sales are soaring: the parent company of social network Tik Tok is planning a new employee share buyback valuing the company at over $330 billion, three sources close to the matter have revealed to Reuters.
200.41 per share
As part of the share buyback program it plans to launch this autumn, the Chinese technology giant plans to offer its current employees $200.41 per share.
A 5.5% increase
This represents a 5.5% increase on the $189.90 offered in the last transaction of this type, six months ago. at that time, the company's valuation was around 315 billion.
The best sales figures
Byte Dance is currently the world's leading social networking company in terms of sales. Its revenues increased by 25% in one year. In the second quarter, they reached $48 billion, according to Reuters sources.
Better revenues than Meta
In the first quarter, Byte Dance's revenues exceeded $43 billion. The company thus became the world's leading social networking company in terms of sales, ahead of Meta - owner of Facebook and Instagram - and its $42.3 billion over the same period.
Market capitalization below Meta
ByteDance's valuation, however, remains well below Meta's market capitalization of around $1900 billion, a difference analysts attribute largely to the political and regulatory risks the Chinese group faces in the US.
Anonymous sources
Details of Byte Dance's revised valuation and second-quarter sales growth had not yet been disclosed. Reuters' sources requested anonymity, as they were not authorized to discuss this information with the media.
Byte Dance under political pressure
While its value continues to rise, Byte Dance is still under pressure from the White House to sell off its US arm. In June, U.S. President Donald Trump extended the deadline for selling the assets to one or more U.S. investors to September 17, 2025.