TikTok owner ByteDance offers to buy back shares from staff at a steeply lower valuation

TikTok owner ByteDance offers to buy back shares from staff at a steeply lower valuation

The ByteDance logo is seen at the company's office building in Shanghai, China July 4, 2023. REUTERS/Aly Song/File Photo

China’s ByteDance, the parent of short video app TikTok, is offering to buy back shares from its employees outside the United States for $160 apiece, a source familiar with the matter said on Wednesday, a plan that the company confirmed.

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