Public announcements from ByteDance or U.S. regulatory authorities

ByteDance Prefers U.S. TikTok Shutdown Over Sale, Despite New Legislation

Apr 26, 2024, 07:29 AM

ByteDance, the Chinese parent company of TikTok, has stated it would prefer to shut down its U.S. operations rather than sell the app, despite recent U.S. legislation mandating the sale of TikTok within 270 days or face a ban. This decision is reportedly due to the core importance of TikTok's algorithms to ByteDance's overall operations, which the company does not wish to sell. Contrary to some media reports suggesting ByteDance is considering selling a majority stake in TikTok's U.S. business, the company has officially denied these claims, emphasizing there are no plans to sell.