ByteDance Offers Investors a Share Buyback , at $268 Billion Valuation.<br />The TikTok owner wants to buy "$5 billion worth <br />of shares from investors," Reuters reports.<br />ByteDance is offering to buy them for <br />$160 each, according to anonymous sources.<br />That price, which the company also <br />offered to its employees in November, .<br />would give the company <br />a $268 billion valuation.<br />That valuation is about 10% lower than a year ago when ByteDance carried out a different share buyback plan, Reuters reports. .<br />ByteDance has been moving toward <br />new areas like e-commerce, .<br />while winding down <br />its gaming brand, Nuverse.<br />ByteDance made the announcement about <br />its gaming division on Nov. 27.<br />We regularly review our businesses <br />and make adjustments to center on <br />long-term strategic growth areas. , ByteDance spokesperson, via Reuters.<br />Following a recent review, we've <br />made the difficult decision to <br />restructure our gaming business, ByteDance spokesperson, via Reuters.<br />Nuverse has been in operation for four years.
