ByteDance launches new U.S. employee stock buyback program

According to people familiar with the matter, TikTok's parent company ByteDance launched a new stock buyback program for US employees this week, with the stock repurchased at a higher valuation than six months ago. ByteDance's stock buyback price for US employees is $189.90 per share, up 11% from $171 per share a year ago and $181 six months ago. This new share price could value ByteDance at around $315 billion (about 2.29 trillion yuan), showing that the company has recovered from a valuation drop in 2023.