TikTok parent ByteDance valued at about $300 billion, WSJ says

TikTok parent company ByteDance Ltd. values ​​itself at around $300 billion, one of the highest valuations ever for the Chinese tech company, even as it struggles to maintain its popular social media app’s presence in the United States, the Wall Street Journal reported Saturday.

The valuation came in a recent buyback offer from ByteDance, the Journal said, citing unidentified people with knowledge of the matter. TikTok would be banned in the US under a federal law unless ByteDance sells the app to an American owner by mid-January.