Follow us on
Google News

Is Bytedance trying to escape from USA ban by selling its majority stake in TikTok?

Team Tech Outlookhttps://www.thetechoutlook.com
Our aim is to showcase our love towards technology, but also love to post about Science,Web, Gadgets, Blogs, Interviews, reviews, and many more. Also we try to grow this tech community and help people in choosing the right Techies!

Must read

The massive explosion occurred near Beirut, Source of explosion unknown

There has been a video of a massive explosion and its shock wave on all the social media platforms. And it is...

Israel Opens Skies For International Students

The State of Israel has announced that new international students would be permitted to enter the country to commence their academic studies...

IDP Education hosts the biggest virtual education fair to help students

Studying overseas is a life-changing decision, not only for students but for their families too. Due to the disruption of services caused...

Tesla’s Cybertruck may end US Amry’s search for better electric vehicle

The U.S. military uncovered designs to join electric vehicles into its armory for far off missions, bringing up Tesla as one of...

TikTok parent Bytedance is reportedly considering to reduce its stake in the short-video app. According to reports in The New York Times and The Information, the Chinese firm is planning to sell a majority stake to the existing investors and will retain a minority stake in the platform. The move is an effort to quell the possibility of a ban by the United States (US) government.

Bytedance is valued at $100 billion and its investors include global firms like KKR, Tiger Global, Softbank’s Vision Fund, Tiger Global, Sequoia and General Atlantic, among others. Most of these companies already have investments in both the US and India, and may help the company quell government’s concerns around Chinese spying.

The Donald Trump administration is considering to ban TikTok in the US. A Senate panel in the country had earlier approved a move to ban federal employees in the US from using TikTok. Secretary of State Mike Pompeo had also told Fox News earlier that the government would consider banning TikTok.

India, of course has banned the app already, along with Vigo Video and Helo, two other apps owned by Bytedance. Both India and US have cited national security risks with TikTok, and the countries view Chinese apps as a possible mechanism for the Chinese governments to spy on their countries.

While Bytedance has rubbished any claims around its apps being a national security risk, there have been signs of the company distancing itself from China. TikTok had earlier pulled out of Hong Kong after a new law imposed on the country by China. Earlier reports have indicated that the company has also considered creating a new board for TikTok and establishing headquarters outside China.


Follow us on Google News

More From Tech

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

- Advertisement -

Latest article

The massive explosion occurred near Beirut, Source of explosion unknown

There has been a video of a massive explosion and its shock wave on all the social media platforms. And it is...

OnMobile Global Announces the outcome of its Board Meeting

The Board of Directors of OnMobile Global Limited ('the Company') at the meeting held on July 31, 2020 approved the following:

Israel Opens Skies For International Students

The State of Israel has announced that new international students would be permitted to enter the country to commence their academic studies...

Get ready for Starlink Broadband from Elon Musk SpaceX

Elon Musk's SpaceX has applied for a permit to turn out 5,000,000 'UFO on a stick' end-client terminals after 700,000 US inhabitants...

IDP Education hosts the biggest virtual education fair to help students

Studying overseas is a life-changing decision, not only for students but for their families too. Due to the disruption of services caused...