TikTok parent company sees significant valuation decline from 2022

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ByteDance's — the parent company of the social media app TikTok —valuation has reportedly dropped over 25% year-over-year. After seeing exponential growth over the past three years, ByteDance's revenue has slowed, due in part to increased competition from Meta’s (META) Instagram Reels and YouTube Shorts (GOOG, GOOGL).

Yahoo Finance Tech Editor Dan Howley reports on ByteDance's valuation slump and ongoing discussions surrounding TikTok's regulation in the U.S.

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