TikTok may get $330-billion valuation in new share buyback

ByteDance, the parent firm of TikTok, is preparing a fresh employee share buyback that values the company at more than $330 billion. The move comes on the back of a 25% year-on-year jump in second-quarter revenue to about $48 billion, fueled largely by its China operations. The buyback provides employees with liquidity in the absence of an IPO, underscoring the company’s robust financial position.