ByteDance Valuation Falls 26% to $223.5 Billion in New Employee Share Buyback

TikTok parent company ByteDance is planning to buy at least $300 million worth of stock from current and former U.S. employees in a deal that values the privately-held company at $223.5 billion, down 26% from a similar buyback offer a year ago, according to two people with direct knowledge of the situation.

Current and former employees must notify the company of their desire to sell shares by the end of October, one of these people said. The company is offering to buy shares from current employees who have worked there less than two years for $160 per share, implying a $223.5 billion overall valuation, said the other person with direct knowledge. Former employees who were laid off from ByteDance also qualify for that figure, this person said.