ByteDance investors plan to take over TikTok, value it at $50 billion: Reuters

TikTok's parent company ByteDance's investors are seeking to take over TikTok and are valuing it at $50 billion, Reuters reported. ByteDance received a proposal from some investors, including Sequoia and General Atlantic, for transfer of TikTok's majority ownership. China's ByteDance is reportedly considering a range of options for TikTok amid pressure from the US to relinquish control of the app.