• About
  • Advertise
  • Careers
Saturday, May 31, 2025
  • Login
No Result
View All Result
Hindustan Surkhiyan
52 °f
New York County
  • World
  • USA
  • New York
  • Bangladesh
  • India
  • Sports
  • Entertainment
  • Science & Tech
  • More
    • Opinion
    • Fashion
    • Business & Economy
    • Interview
    • Literature
      • poetry
    • Lifestyle
      • Biography
    • Nature
    • Travels
    • Cartoons
  • বাংলা
  • World
  • USA
  • New York
  • Bangladesh
  • India
  • Sports
  • Entertainment
  • Science & Tech
  • More
    • Opinion
    • Fashion
    • Business & Economy
    • Interview
    • Literature
      • poetry
    • Lifestyle
      • Biography
    • Nature
    • Travels
    • Cartoons
  • বাংলা
No Result
View All Result
Hindustan Surkhiyan
Home Science & Technology

ByteDance says ‘no plans’ to sell TikTok after US ban law

April 28, 2024
in Science & Technology, World
Reading Time: 2 mins read
A A
ByteDance says ‘no plans’ to sell TikTok after US ban law
171
VIEWS
Share on FacebookShare on Twitter

Chinese tech giant ByteDance has said it has no plans to sell TikTok after a new US law put it on a deadline to divest from the hugely popular video platform or have it banned in the United States.

US lawmakers set the nine-month deadline on national security grounds, alleging that TikTok can be used by the Chinese government for espionage and propaganda as long as it is owned by ByteDance.

The Information, a tech-focused US news site, reported that ByteDance was looking at scenarios for selling TikTok without the powerful secret algorithm that recommends videos to its more than one billion users around the world.

ByteDance denied it was considering a sale.

“Foreign media reports about ByteDance exploring the sale of TikTok are untrue,” the company posted Thursday on Toutiao, a Chinese-language platform it owns.

“ByteDance does not have any plans to sell TikTok.”

TikTok has been a political and diplomatic hot potato for years, first finding itself in the crosshairs of former president Donald Trump’s administration, which tried unsuccessfully to ban it.

It has forcefully denied any link to the Chinese government, and said it has not and will not share US user data with Beijing.

TikTok says it has also spent around $1.5 billion on “Project Texas”, under which US user data would be stored in the United States.

Its critics say the data is only part of the problem, and that the TikTok recommendation algorithm — the “secret sauce” for its success — must also be disconnected from ByteDance.

TikTok CEO Shou Zi Chew has said the company will take the fight against the new law to the courts, but some experts believe that for the US Supreme Court, national security considerations could outweigh free speech protection.

Bullish investors
The estimated valuations of TikTok are in the tens of billions of dollars, and any forced sale would present major complications.

Among those with deep enough pockets, US tech giants such as Instagram-parent Meta or Google would likely be blocked from buying the app over competition concerns.

Further, many investors consider TikTok’s recommendation algorithm to be its most valuable feature.

But any sale of such technology by a Chinese company would require approval from Beijing, which designated such algorithms as protected technology following Trump’s attempt to ban TikTok in 2020.

Beijing has so far vocally opposed any forced sale of TikTok, saying it will take all necessary measures to protect Chinese companies.

While TikTok is a global phenomenon, it represents a small fraction of ByteDance’s revenue, according to analysts and investors.

ByteDance has enjoyed explosive growth in recent years, becoming one of the most valuable companies in the world. Its international investors, including US firms General Atlantic and SIG as well as Japan’s SoftBank, have stakes worth billions.

“TikTok US is a very small part of the overall business. It is an exciting part of the story, for sure, but… relative to the overall size, it’s a very small part,” ByteDance investor Mitchell Green, of US-based Lead Edge Capital, told CNBC television last month.

“If it was kicked out of the US, we would not sell.”

Previous Post

Another 29 killed in Afghan floods

Next Post

Microsoft expands its AI empire abroad

Related Posts

Canadian report finds ‘no definitive link’ between Nijjar killing and India

Canadian report finds ‘no definitive link’ between Nijjar killing and India

January 31, 2025
US AID FREEZE: UNHCR taking ‘precautionary measures’

US AID FREEZE: UNHCR taking ‘precautionary measures’

January 29, 2025
UK detects human case of bird flu, says wider risk remains low

UK detects human case of bird flu, says wider risk remains low

January 27, 2025
Four sentenced to death in Pakistan for blasphemy

Four sentenced to death in Pakistan for blasphemy

January 26, 2025
Next Post
Microsoft expands its AI empire abroad

Microsoft expands its AI empire abroad

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Most Recent

Hindutva: From Ideology to Governance

Hindutva: From Ideology to Governance

May 19, 2025
Graves and Glory: The Human Toll of the Indo-Pak Wars

Graves and Glory: The Human Toll of the Indo-Pak Wars

May 19, 2025
To Go to War or Not: A Reflection on India’s Current Path!

To Go to War or Not: A Reflection on India’s Current Path!

May 9, 2025
India deportation flight likely cost US more than $1 mn

India deportation flight likely cost US more than $1 mn

February 7, 2025
Hasina’s extradition: ‘India has not responded to Dhaka’s request’

Hasina’s extradition: ‘India has not responded to Dhaka’s request’

February 7, 2025

Follow Us

Shah J. Choudhury
President
Husneara Choudhury
Editor
A Unit of Shah Group
USA Office: 70-52 Broadway 1A, Jackson Heights, NY 11372. Contact:‭ +1 (718) 496-5000.
Bangladesh Office: F-29, Road-01, Sector-02, Aftabnagar, Dhaka-1212.
India Office: 352, Block A, Sector 2, Rohini, New Delhi 110085. Contact: +91 987 343 8786.
Email: hindustansurkhiyan@gmail.com, www.hindustansurkhiyan.com

A Unit of Shah Group
© Copyright 2022, All Rights Reserved by Hindustan Surkhiyan
Privacy Policy   Term & Conditions

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • World
  • USA
  • New York
  • Bangladesh
  • India
  • Sports
  • Entertainment
  • Science & Tech
  • More
    • Opinion
    • Fashion
    • Business & Economy
    • Interview
    • Literature
      • poetry
    • Lifestyle
      • Biography
    • Nature
    • Travels
    • Cartoons
  • বাংলা

© Copyright 2022, All Rights Reserved by Hindustan Surkhiyan

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.