Chinese society ByteDance stated that will not sell TikTok in the United States, despite recent legislation signed by President Biden. Law that could lead to a ban on the app if ByteDance decides not to sell.
ByteDance will not sell TikTok in the US
As reported by The Wall Street Journal, in a statement released on the platform Toutiaoowned by ByteDance, the company has denied rumors that is considering the possibility of selling a majority stake of TikTok's US business. While this fee would not include the algorithm that recommends videos to users, the company has denied it wants to sell. Even at the risk of a ban.
Under the new law, ByteDance has one year to sell TikTok or face a prohibition in the United States, the app's largest market with 170 million users. American lawmakers have expressed concerns about TikTok's impact on the national securityin particular regarding the management of user data and the influence on content.
TikTok has repeatedly denied having shared American user data with the Chinese government. And he stated that he would refuse any request to do so. However, the sale of the app may be hindered by China. That included the recommendation algorithms of contents in a checklist of exports in 2020.
Selling just the US business would allow ByteDance to keep most of TikTok's business. But according to CEO Shou Zi Chew this could “break” the app, whose appeal also lies in the possibility for users from other countries to experience American culture.
In a video posted after Biden signed the law, Chew assured users that TikTok will continue to challenge the legislation in court and that it is “not going anywhere.” To do so, it would have to win appeals made in American courts. We will keep you posted.
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Source
The Wall Street Journal