What price would shares in ByteDance, owner of the hugely popular TikTok app, fetch today? ByteDance last raised money at a $75 billion valuation, and its shares traded at even higher levels recently on secondary markets. Today, though, investor interest might be just a bit weaker.
TikTok has been banned in India, its biggest market, and now the Trump administration is talking about blocking it from the U.S., its most important market in terms of potential revenue. The U.S. warning came in retaliation for China’s national security law imposed on Hong Kong, which has also prompted TikTok to pull its app from Hong Kong.