TikTok owner ByteDance sets valuation at over $330 billion as revenue grows, sources say

ByteDance, the owner of short-video app TikTok, is set to launch a new employee share buyback that will value the Chinese technology giant at more than $330 billion, driven by continued revenue growth, said three people with knowledge of the matter.

The company plans to offer current employees $200.41 per share in the repurchase programme, the people said, up 5.5% from $189.90 each it offered them about six months ago which valued ByteDance at roughly $315 billion.

The buyback is expected to be launched in the autumn.

The latest buyback at a higher…