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TikTok-owner ByteDance plans buyback at $400 billion valuation, The Information reports
- ByteDance, the Chinese owner of TikTok, is planning to buy back up to $6 billion worth of shares
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Brief AI Generated summary
ByteDance, owner of TikTok, is reportedly planning a $6 billion share buyback from existing investors, valuing the company at approximately $400 billion.
Read the full article for:
- ByteDance's share buyback plans.
- The company's valuation at $400 billion.
- Details from The Information's report.
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ByteDance, the Chinese owner of TikTok, is planning to buy back up to $6 billion worth of shares from existing investors at a valuation of about $400 billion, The Information reported on Thursday, citing a letter to shareholders and a person familiar with the plans.
Reuters could not immediately verify the report.