TikTok owner mulls restructure to shrink from China - Mobile World Live

TikTok owner mulls restructure to shrink from China

10 JUL 2020

ByteDance, the owner of social media app TikTok, reportedly began examining options to amend the corporate structure of the service, in an effort to alleviate concerns over alleged links to the Chinese government.

The Wall Street Journal reported ByteDance was considering the possibility of establishing a headquarters for TikTok outside of China, as well as building a new management board.

TikTok has offices in Los Angeles, New York, London, Paris, Berlin, Dubai, Mumbai, Singapore, Jakarta, Seoul and Tokyo.

ByteDance’s move was later confirmed by a company representative who told Fortune the company would take steps according to “the best interest” of its users, employees, artists, creators, partners and policy makers.

The app, which offers short-form videos, was banned from India in June as part of a crackdown against Chinese apps due to data privacy and state sovereignty concerns.

TikTok operations were halted in Hong Kong today (10 July), BBC News reported, a move the company previously warned it would take after the imposition of a wide-ranging national security law by Chinese authorities.

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Yanitsa Boyadzhieva

Yanitsa joins Mobile World Live as a Reporter based in London. She has more than 5 years’ experience at various media outlets in her home country Bulgaria. She started her career as a political reporter, followed by taking editor roles...

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