ByteDance, the owner of TikTok, have faced a serious valuation decline during 2022 of $300B.
A special meeting was planned with the shareholders of the firm in order to discuss share repurchase and other matters including the steps towards boosting the firm’s share capital.
Regarding the share repurchase, budgeting up to $3B to acquire shares, China’s top unicorn’s valuation dropped from $400B last year.
This year, the shares were trading at $300B in the private equity market. That would be the first time ByteDance offers a share repurchase to investors.
Julie Gao, the CFO, declared that there are no plans of going public. The firm continues to share buy-backs from its staff, and the price of stock options was decreased to $155.
We see now, that ByteDance has developed into the world’s most valuable unicorn even at such a trimmed valuation.
