Report: ByteDance to Shut Down TikTok If Legal Efforts Fail
PYMNTS.com - 2024-04-25T23:49:43.000Z

TikTok owner ByteDance would reportedly rather shut down the social media platform than sell it. That’s what the firm plans to do if it is unsuccessful in its legal efforts to fight legislation that would ban TikTok from app stores in the United States if it is not sold, Reuters reported Thursday (April 25), citing unnamed sources. ByteDance considers TikTok’s […]

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ByteDance prefers TikTok shutdown in US if legal options fail: report
TikTok owner ByteDance would prefer to shut down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S., four sources said. The algorithms TikTok relies on for its operations are deemed core to ByteDance's overall operations, which would make a sale of the app with algorithms highly unlikely, said the sources close to the parent. TikTok accounts for a small share of ByteDance's total revenues...
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ByteDance would rather shut TikTok in the US than sell if legal challenge against ban law fails (report)

ByteDance prefers TikTok shutdown in US if legal options fail: report

TikTok owner ByteDance reportedly would rather shut down app than sell it as it faces US ban