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ByteDance values TikTok at $60 billion for US deal

Shortpedia

Content Team
Image Credit: shortpedia

Chinese giant ByteDance is said to have valued TikTok at an approximate $60 billion. The estimate, first reported by Bloomberg, comes as Walmart and Oracle continue to move forward with a deal to cumulatively take a 20% stake in the hit video service, as required by the Trump administration due to national security concerns. Under the deal, Oracle has agreed to take a 12.5% stake in TikTok while Walmart will take a 7.5% stake.