Byte jump to sell tiktoks overseas majority stake? Here comes the latest response

 Byte jump to sell tiktoks overseas majority stake? Here comes the latest response

Photo source: visual China

On July 23, it was reported that investors led by venture capital firms general Atlantic and Sequoia Capital were discussing the possibility of acquiring a majority stake in tiktok with the U.S. Treasury Department and regulators, and investors had preliminary contact with Zhang Yiming, founder of byte jump.

In response to this, the byte skipping aspect responded to the news on the interface, saying it would not comment on market rumors.

After being banned by India, tiktoks fate in the United States has also been full of twists and turns. On July 22, the U.S. House of Representatives voted on Monday local time to ban federal employees from downloading tiktok on government issued devices, citing a security threat to the software, reported.

Next, the United States will submit to the Senate for a full vote on whether to extend tiktoks ban to a wider range.

Facing the pressure from the U.S. government, byte beat has been discussing coping strategies, such as setting up a pure foreign executive team, seeking to set up overseas headquarters, lobbying the U.S. government, and opening a transparency center in the United States, in an attempt to gain the trust of the U.S. government.

The sale of tiktoks stake seems to be one of the potential solutions considered by byte jump, but it is difficult to perform. Tiktok believes that TikTok and its Chinese version are key technologies for sharing the jitter, so it is difficult to bind the byte beating of its parent company.

According to the above report, the current discussion on the equity sale is still in its infancy, and byte skipping is still considering other ways not to be banned by the United States or be forced to separate from the app.

Recently, byte skipping is taking measures to increase the number of tiktok employees in the United States. On July 21, a TikTok US spokesman said the company plans to employ 10000 people in the United States over the next three years. He said that since this year, tiktoks employees in the United States have increased from 500 to 1400, and that in the future, tiktok will recruit engineering, sales, content auditing, customer service and other positions in key areas such as California and Texas.

The United States is one of tiktoks important markets. According to sensor tower store data, as of the end of April 2020, tiktok had more than 2 billion downloads worldwide, of which 8.2% were downloaded from the US market. It has been estimated that nearly half of tiktoks revenue this year will come from the United States, estimated to be between $1 billion and $1.4 billion.

Source: responsible editor of interface news: Wang Fengzhi_ NT2541