The ByteDance logo is seen at the company's office building in Shanghai, China July 4, 2023. REUTERS/Aly Song/File Photo Acquire Licensing Rights

Oct 2 (Reuters) – ByteDance is buying back shares from U.S. employees in a deal that values the TikTok parent company at $223.5 billion, about 26% lower than the valuation it hit in a similar transaction a year earlier, the Information reported on Monday.

ByteDance's valuation slumps to $223.5 bln in stock buyback The Information comes via ChinaTechNews.com.