- Tram Ho
Some current US investors of ByteDance are considering buying additional shares to take control of TikTok subsidiary. According to information from The Information, a small group of investors has begun to discuss with ByteDance’s top leaders about the plan.
Earlier, ByteDance founder and CEO Truong Nhat Minh had said he would not object to such a deal. ByteDance is currently struggling with concerns about the security of the TikTok app, while relations between China and the US are increasingly strained.
|ByteDance is currently struggling with concerns about the security of the TikTok app, while relations between China and the US are increasingly strained.|
Earlier this week the US House of Representatives voted in favor of banning the use of the app on public service devices. President Donald Trump and other government members are also considering the ban on TikTok across the United States.
However, as White House economic adviser Larry Kudlow suggested, TikTok could separate from ByteDance and stand out to become an independent US company to clear doubts surrounding its relationship with the Chinese government.
ByteDance can also sell TikTok entirely to an American company, although if they sell to another social networking platform on the market, such as Snap, the antitrust issue will most likely be raised.
To ease the current situation, TikTok is expected to add 10,000 employees to the US workforce in the next 3 years. TikTok also recruited an “army” of more than 35 people who specialized in lobbying officials and lawmakers.
Source : Genk