[HIGHLIGHTS] Explaining the reasons for the low valuation.. A billionaire offers to buy “Tik Tok” for less than 90% of its value

Billionaire Kevin O'Leary is gathering a number of interested parties for a possible purchase of the TikTok platform. The offer starting from $20 billion to $30 billion, which is less than the company's valuation in its last financing round by up to 90%.

Any potential deal would need the White House's blessing given its national security implications. It is still unclear whether the Chinese government will allow ByteDance to sell TikTok to an American buyer. The company has lobbied vigorously against a bill that would force Byte Dance to either withdraw its leading global app or face an effective ban.