(Reuters) – Short video app TikTok parent ByteDance was valued at $223.5 billion in a new employee share buyback, about 26% lower than a year ago, the Information reported on Monday.
The company did not immediately respond to a Reuters request for comment outside of normal business hours.
ByteDance is planning to buy at least $300 million worth of stock from current and former U.S. employees, the report said.
(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)
