A recent report by The Wall Street Journal disclosed that ByteDance, TikTok’s parent company, valued itself at $300 billion during a share buyback program. This aligns with its prior valuation from September 2022 but reflects recovery from a decline to $223 billion a year earlier.
TikTok’s prospects in the U.S. have improved with Donald Trump’s re-election, despite his earlier attempts to ban the platform. Now, he has pledged to “SAVE TIK TOK IN AMERICA,” contrasting with President Biden’s April legislation demanding ByteDance divest TikTok within nine months or face a ban.
Read more: TikTok Fights US Ban in Critical Court Battle
ByteDance is contesting this legislation through legal action, complicating matters further. Influential investor Jeff Yass, a Republican donor, also factors into the equation, potentially easing tensions under the new administration.
TikTok, however, remains controversial due to issues like hosting inappropriate live streams and exploiting its addictive nature among minors. Internal documents revealed efforts to suppress less attractive content while promoting others, sparking criticism despite added parental controls for damage control.
