ByteDance may shut down TikTok instead of selling it to avoid a U.S. ban: Report
The Hindu
ByteDance, the Chinese parent of the viral short video app TikTok, may choose to shut down the app rather than sell it.
ByteDance, the Chinese parent of the viral short video app TikTok, may choose to shut down the app rather than sell it after U.S. President Joe Biden signed a bill this week forcing it to give up ownership in the next nine to 12 months, reported Reuters on Friday, citing multiple anonymous sources.
ByteDance posted a statement on the Toutiao media platform on Thursday, saying that it did not plan to sell TikTok. ByteDance was responding to a media story which reported that it had plans to sell.
While TikTok means to fight the motion legally and a true ban could take years to come into effect, the sources suggested that it would make more sense for ByteDance to shut down the app that is not a major part of its operations, per Reuters.
TikTok’s highly engaging video feed is powered by algorithms that are crucial for ByteDance’s business model, so selling off the app in its original form would be highly difficult, according to the sources.
(For top technology news of the day, subscribe to our tech newsletter Today’s Cache)
A sale is also likely to be complex due to U.S.-China tensions that have spilled over into trade relations and tech exchanges between the two countries.
Biden signed the bill forcing ByteDance to divest ownership of TikTok, along with a foreign security aid package to Ukraine, Taiwan, and Israel.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
Stokes — raw, real and relentless
BJP MLA Byrathi Basavaraj questioned in Shivaprakash murder case, reiterates innocence, as police continue investigations.
Delhi High Court grants anticipatory bail to NewsClick founder Prabir Purkayastha in foreign funding and money laundering cases.
A Class 12 student from a fishing community, who chose to support her family, was persuaded to join college at a special grievance redress and guidance session held under the Naan Mudhalvan scheme in Thanjavur on Wednesday
Union Minister Chirag Paswan aims to promote Indian food globally at World Food India event in Delhi.
TNGCPL terminates BGR contract for North Chennai Super Critical Thermal Power Project, citing non-fulfillment of obligations.
Andre Russell's final T20 innings ends in defeat, despite a dazzling 36 off 15 balls; Australia leads series 2-0.
A 26-year-old woman and her lover were arrested for murdering her husband in Vellore. Police reveal shocking details of the crime.
A Division Bench of the High Court of Karnataka on Wednesday allowed the Bruhat Bengaluru Mahanagara Palike (BBMP) to levy fees for building licence/plan sanction, issuance of completion and occupancy certificates, and ground rent, etc., based on “guidance value” of the properties for the time being, by staying the June 5 verdic of a single judge.
11 arrested in drug busts, contraband worth over ₹82 lakh seized
Railway Minister directs SWR to send final project report for crossing station at Arebetta, addressing MP's concerns.
Mentally challenged youth rescued from swirling waters
Former IAS probationer Puja Khedkar's non-creamy layer OBC certificate cancelled due to suppression of information, sparking controversy and legal battles.