HONG KONG — ByteDance, the owner of short-video app TikTok, is set to launch a new employee share buyback that will value the Chinese technology giant at more than $330 billion, driven by continued revenue growth, said three people with knowledge of the matter.

The company plans to offer current employees $200.41 per share in the repurchase program, the people said, up 5.5% from $189.90 each it offered them about six months ago which valued ByteDance at roughly $315 billion.

The buyback is expected to be launched in the autumn.

The latest buyback at a higher valuation will come as ByteDance consolidates its position as the world’s largest social media company by revenue, with its second-quarter revenue up 25% year-on-year, the people said.

That jump resulted in the company’s second-qua

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