ByteDance has been building TikTok’s operations in the US, hiring hundreds and establishing American data centers to quarantine local information. — AFP
China’s ByteDance Inc created one of the country’s rare global hits with the addictive video app TikTok. Now the US government is threatening that success as officials in Washington warn the service presents a security threat.
The Beijing-based company, led by Chief Executive Officer Yiming Zhang, is weighing a range of options to address those concerns, according to people familiar with the matter. Advisors are pitching everything from an aggressive legal defense and operational separation for TikTok to sale of a majority stake, said the people, asking not to be named because the discussions are private. Selling more than half the business could raise substantially more than US$10bil (RM41bil), one person said.
Limited time offer:
Just RM5 per month.
