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TikTok parent ByteDance to allow U.S. staff to cash out on shares, sources say

July 12, 2023
Source: theglobeandmail.com theglobeandmail.com
News Snapshot:
ByteDance, the Chinese owner of short video app TikTok, will allow shares owned by U.S. employees to vest without waiting for the company to list in the stock market, thereby letting them cash out, according to people familiar with the matter. The move is aimed at appeasing restless employees who have been waiting for an initial public offering (IPO) to profit from the shares they have been awarded as part of their compensation. It is also an indication that ByteDance, whose worth in excess of $200 billion makes it the world’s most valuable startup, is in no rush to go...
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China Tech Buzz Topics: app | ban | block | boycott | ByteDance | cash | Chinese | compensation | data | government | initial public offering | ipo | IT | online video | privacy | processor | profit | Security | share | shares | social media | stock market | technology | TikTok | White House

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