Republic and Republic Europe have listed another Mirror Token (Mirror Notes in the UK) offering. This time, it is for the parent company of TikTok, ByteDance.
So far, Republic has listed Mirror Token offerings for SpaceX, Monzo (UK only), Databricks, Canva, Ramp, Perpexlity, Anthropic, and Epic Games. SpaceX, Perplexity, and Anthropic are fully committed and closed. Not all Mirror assets are listed on both Republic and Republic Europe.
For Republic Europe, Mirror Notes are debt instruments from US-based RepublicX LLC.
All of these assets are expected to mirror or match the change in valuation of the reference security. The goal is to provide smaller investors with improved access to promising private firms.
TikTok is an incredibly popular social media app that boasts over 1.8 billion monthly users. TikTok is expected to generate over $33 billion in revenue in 2025.
The rTTOK Mirror Note on Republic Europe is accepting investments as small as £20 for nominee investments.
The rTTOK Mirror Token on Republic US has a minimum investment of $250.
Republic US shares that at that price, there is an indicative valuation of around $400 billion, which is approximately 25% higher than the last valuation for an employee buyback program that gave the company a $330 billion valuation. Fidelity Investments valued ByteDance at $385 billion in July 2025.
The offering page touts that ByteDance anticipates topping Meta (Facebook) revenue in 2025.
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