The share purchase, which was carried out by the company G42, values Tiktok owner Bytedance at 220 billion dollars, writes Bloomberg and refers to sources familiar with the matter. The sum corresponds to just over 2.3 trillion – NOK 2,300 billion – at today’s exchange rate.
Last year, Bytedance valued itself at $300 billion when it launched a share buyback program.
The Chinese company owns the video app Tiktok, which has become one of the world’s most popular social media platforms. Tiktok has also received harsh criticism because it is suspected that the service shares information about its users with the Chinese authorities.
G42 is controlled by Sheikh Tahnoon bin Zayed al Nahyan of the Emirates. In addition to being a businessman, he is also a security advisor for the country’s government.
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