ByteDance is vying for the title of China's most valuable IT company
Author - Mansur Ismagulov
The Tech AI
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ByteDance, the parent company of TikTok, is valued at $300 billion following a stock buyback offer. The company's market capitalization has steadily grown: in October last year, it stood at $225 billion, and by December, it had increased to $268 billion.
The popularity of ByteDance's social network TikTok has undoubtedly made its parent company one of the most influential in China's technology sector. A recent stock buyback offer valued its market capitalization at $300 billion.
ByteDance's market capitalization has steadily grown following successive stock buyback deals. In October last year, it was valued at $225 billion, by December of the same year it had risen to $268 billion, and now it is poised to surpass the $300 billion mark.
Source: 3dnews
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