TikTok Is Set on Its Global Business, Chinese Owner Says
Xu Wei
DATE:  Aug 03 2020
/ SOURCE:  Yicai
TikTok Is Set on Its Global Business, Chinese Owner Says TikTok Is Set on Its Global Business, Chinese Owner Says

(Yicai Global) Aug. 3 -- Beijing Bytedance Technology is committed to becoming a global company, it said yesterday in reply to US threats to ban its popular TikTok short video app. The company strictly abides by local laws and will actively exercise its legal rights to protect its interests, it added.

Bytedance still adheres to its vision of globalization and is steadily raising its investments in China and other markets to create value for customers worldwide in the course of going global and in the face of various complex and inconceivable difficulties, including a tense international political environment and the collision and conflict of cultures, the company added.

TikTok, a short video product focusing on the overseas market known as Douyin in China has become one of the world’s most popular apps since its 2018 debut. Its downloads had topped 2 billion by April, data from analytics firm Sensor Tower show.

US President Trump plans to ban the social media platform from the country. “As far as TikTok is concerned, we’re banning them from the United States,” he told reporters aboard Air Force One, The Hill reported on July 31.

The US government's pressure on the short video app for "alleged threats to US national security” has placed TikTok under great strain in the US since the year's start.

Bytedance has agreed to completely spin off the platform's US business, Reuters reported today. The Chinese firm will bow out completely and Microsoft will take over TikTok in the US, per the report, which added the two hope to seal a deal by Sept. 15.

Bytedance brims with confidence as to TikTok's long-term success though it declines to comment on rumors or speculation, per a statement it made on Aug. 1. The app is for entertainment and communication and hundreds of millions, including creators and artists, make a living on it. Inspired by their passion and creativity, TikTok is dedicated to protecting their privacy and security while seeking to provide meaningful careers to the creators on its platform.

Editor: Ben Armour

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Keywords:   TikTok,US,Microsoft,Trump,Facebook