TikTok Parent Company Says They Are Unwilling to Sell, Which Could Lead to Full Ban in the US
TikTok’s parent company, ByteDance, has announced that they have no plans to sell — which would allow the popular social media platform to continue operating in the United States.
Joe Biden signed legislation into law on Wednesday that gives ByteDance, which is based in China, nine months to sell or be banned.
“Foreign media reports that ByteDance is exploring the sale of TikTok are untrue,” ByteDance said in a statement on Toutiao, a news aggregation app that it owns, according to a report from CNN. “ByteDance doesn’t have any plan to sell TikTok,” it said.
The Hill reports:
Even if TikTok were purchased in the U.S., it likely would be different from the app users use today because Chinese export rules would regulate whether the algorithm could be transferred,
