ByteDance investors are looking to buy TikTok assets
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Some of the investors in ByteDance (BDNCE), including investment firm General Atlantic, want to take large stakes in TikTok’s North America, Australia, and New Zealand operations while Microsoft (NASDAQ:MSFT) or Oracle (NYSE:ORCL), which are also vying to buy the units, would get a minority stake under the plan. The news comes after reports that TikTok is preparing to legally challenge President Trump’s executive order banning transactions between the popular short-form video app and parent ByteDance. The assets for sale may be valued $25 Billion – $35 Billion, sources told Reuters. The ByteDance investors are discussing exchanging some or all of their shares in ByteDance with equity in the TikTok assets, they said.
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