ByteDance Offers Investors a Share Buyback at $268 Billion Valuation

ByteDance Offers Investors a Share Buyback , at $268 Billion Valuation.

The TikTok owner wants to buy "$5 billion worth of shares from investors," Reuters reports.

ByteDance is offering to buy them for $160 each, according to anonymous sources.

That price, which the company also offered to its employees in November, .

Would give the company a $268 billion valuation.

That valuation is about 10% lower than a year ago when ByteDance carried out a different share buyback plan, Reuters reports.

.

ByteDance has been moving toward new areas like e-commerce, .

While winding down its gaming brand, Nuverse.

ByteDance made the announcement about its gaming division on Nov.

27.

We regularly review our businesses and make adjustments to center on long-term strategic growth areas.

, ByteDance spokesperson, via Reuters.

Following a recent review, we've made the difficult decision to restructure our gaming business, ByteDance spokesperson, via Reuters.

Nuverse has been in operation for four years.