ByteDance offers investors a buyback at $268 billion valuation

News Snapshot:

(Bloomberg) — ByteDance Ltd., parent of social video phenom TikTok, is offering to buy back up to $5 billion from investors, according to people familiar with the matter. Most Read from Bloomberg The new offer, earlier reported by the South China Morning Post, is pitched at $160 per share, the same level as ByteDance offered to employees in November, the people said, asking not to be named discussing a private matter. It’s at a valuation roughly 11% lower than the price ByteDance offered to investors in 2022, which would still place it among the 40 most valuable public companies in...