Retail News

TikTok considers splitting from ByteDance to ward off U.S. action

Bloomberg 03/15/2023

Tiktok’s leadership is considering the possibility of pursuing a sale or initial public offering if it cannot address U.S. national security concerns about its parent company ByteDance’s relationship with the Chinese government. A sale or IPO is considered an action of last resort if the American government takes action against the video-sharing app. TikTok is currently banned for use in government devices and Congressional leaders have floated the idea of an outright ban of the social media site.

Source: Bloomberg


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