ByteDance's valuation slumps to $223.5b in stock buyback: Report

ByteDance's valuation slumps to $223.5b in stock buyback: Report

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

ByteDance is buying back shares from U.S. employees in a deal that values the TikTok parent company at $223.5 billion, about 26% lower than the valuation it hit in a similar transaction a year earlier, the Information reported on Monday.