TikTok owner ByteDance launches share buyback after shelving IPO plans

TikTok owner ByteDance launches share buyback after shelving IPO plans

FILE PHOTO: TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken Nov. 27, 2019. REUTERS/Dado Ruvic

ByteDance, the Chinese owner of short video platform giant TikTok, launched a share buyback this week for current and former employees, two people with direct knowledge of the matter said on Wednesday.