WASHINGTON - TikTok's prospective buyers are discussing four ways to structure an acquisition from its Chinese owner ByteDance, which include buying its US operations without key software, after Beijing stalled a deal which could be worth US$30 billion , sources said.
"TikTok is loved by 100 million Americans because it's a home for entertainment, self-expression, and connection. We're committed to continuing to bring joy to families and meaningful careers to those who create on our platform for many years to come," a TikTok spokeswoman said in a statement. One possibility being discussed is to sell TikTok without the algorithm it uses to make recommendations to users.
This would amplify the geopolitical risk, given worsening relations between the world's two largest economies over trade, cyber security and the spread of the coronavirus. TikTok is functionally and technically similar to ByteDance-owned Douyin, which is available only in China, and shares technical resources with it and other ByteDance-owned properties, sources have previously said.
ByteDance has been in talks to sell TikTok's North American, Australian and New Zealand operations since last month.
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