Deals
TikTok Owner Seeking $60 Billion Valuation in U.S. Deal
- TikTok’s U.S. operation alone was valued at up to $50 billion
- The parties have to negotiate and agree on a final price tag
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China’s ByteDance Ltd. is seeking a valuation of $60 billion for TikTok as Oracle Corp. and Walmart Inc. take stakes in the short-video app’s business to address U.S. security concerns, according to a person familiar with the matter.
Oracle and Walmart have rights to buy 12.5% and 7.5% respectively of a newly established TikTok Global under an agreement that won the approval of President Donald Trump, the person said, asking not to be named discussing private negotiations. The two companies would pay a combined $12 billion for their stakes if they agree to that asking price.