Spinee wrote a post · Apr 25 22:28

ByteDance Prefers TikTok Shutdown Over Forced Sale in US, Sources Say

ByteDance, the owner of TikTok, would opt to shut down the app rather than sell it if legal avenues to challenge US legislation banning the platform are exhausted, according to four sources familiar with the matter. $ByteDance(FT0001)$ $Bytedance Concept Stocks(BK1266.HK)$

The algorithms integral to TikTok's operations are considered essential to ByteDance's overall functions, making a sale of the app with these algorithms highly improbable, the sources close to the parent company revealed.

Given TikTok's relatively small contribution to ByteDance's total revenues and daily active users, the parent company would prefer to shut down the app in the US as a last resort rather than sell it to an American buyer, they added.

$Hang Seng TECH Index(800700.HK)$ $Hang Seng Index(800000.HK)$ $KraneShares CSI China Internet ETF(KWEB.US)$

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more

Translate

Report

43K Views

Comment

Spinee

1353Followers

8Following

9323Visitors