Users may get access to Tik Tok App soon
US investors eye buying TikTok from Chinese parent company: report
A group of US investors in TikTok parent company ByteDance are reportedly discussing a plan to buy Tik Tok App.
However, it is unclear if the investors would only purchase TikTok’s US operations, or if they would also acquire TikTok’s business in India. The shot-video App was banned in India in June.
While the talks are still in preliminary stages, ByteDance founder Zhang Yiming is reportedly open to a sale.
The investors would buy a majority stake in TikTok, with ByteDance maintaining a minority stake with no board representation.
Also, there are several hurdles in this deal. The White House is currently reviewing whether to take action against TikTok.
(With inputs from New York Post)
Ms Kalinga