10:54 - 18.11.2024

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 November 18, Fineko/abc.az. Chinese company ByteDance, which owns TikTok, estimates itself at about $300 bn, ABC.AZ reports, referring to The Wall Street Journal (WSJ).

This assessment follows from a recent offer to investors to buy back shares. According to newspaper's sources, this week the management of ByteDance informed investors that the company is ready to buy back its shares from them at price of $180 each. This is not the first round of repurchase of shares of the Chinese company over the past year. So, in October 2023, ByteDance estimated itself at $225 billion as part of the offer, and in December of last year it was already at $268 billion. At that, company's management assured investors at a recent meeting that the cost of ByteDance will continue to grow following the popularity of the service in the world.