WASHINGTON D.C (VINnews)-ByteDance, the parent company of TikTok, is pulling in more money than Meta but continues to face mounting political headwinds in the United States.
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The Chinese tech giant is launching a new employee share buyback program at $200.41 per share, giving the company a valuation of more than $330 billion — up from $315 billion just six months ago.
In the second quarter alone, ByteDance reported $48 billion in revenue, topping Meta’s $42.3 billion and cementing its status as the world’s most lucrative social media company.
Despite that dominance, ByteDance’s market valuation remains less than one-fifth of Meta’s, largely due to persistent U.S. political pressure over TikTok.
President Trump has pushed the deadline for a forced TikTok sale to Sept. 17, as a group of American investors continues talks to acquire the platform. But the deal has been slow to take shape, drawing frustration from lawmakers in Washington.
Meanwhile, ByteDance is spending aggressively on artificial intelligence projects and stockpiling Nvidia chips, while funding its buyback with its own cash — a move that allows the company to avoid going public.