ByteDance Firm On Ownership Amid Potential US TikTok Ban

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TikTok’s parent company, ByteDance, reportedly has no plans to shut down its app in the US. The decision comes after the US passed a new law forcing it to sell the platform or be banned in the country. The law comes amid concerns about national security and data privacy since ByteDance, the company that owns the app, is Chinese.

Local players Dothan United Dragons express excitement of inaugural seasonTim Shirley celebrates birthday and 35 years of Home Oil Charity Golf ClassicKirk Cousins Left “Shocked” At Falcons' QB Draft Pick ByteDance has been told it has to sell its US operations by January 19, but it reportedly plans to shut down the app instead of selling its business.

“ByteDance doesn’t have any plans to sell TikTok," the company said in a statement on social media platform Toutiao. The company views TikTok's algorithm as integral to its operations and is reluctant to sell without it. Despite the potential impact on its revenue, ByteDance appears willing to prioritize its stance on ownership over the platform's future in the US.President Biden signed legislation Wednesday that would ban TikTok in the U.S.

 

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