ByteDance, a Chinese internet giant, is considering to change the corporate structure of its popular short video app with a massive base in India, TikTok, and shift headquarters out of China as it faces backlash in India and the United States.
The Wall Street Journal (1) reported that the senior executives at ByteDance are considering options like creating a new management board for short video app TikTok or moving the headquarters of the app outside China.
TikTok stated that as they consider the best path forward, ByteDance is evaluating changes to the corporate structure of TikTok. They further added that the company is fully committed to protecting its users’ privacy and security as the platform that inspires creativity and brings joy for millions of people globally.
The government banned over 59 Chinese apps, including TikTok, the previous week, which cited a threat to India’s sovereignty, security, and public order.
US hinting at TikTok ban
Recently, the US Secretary of State Mike Pompeo also hinted at a potential ban for TikTok and other Chinese apps during his interview with Fox News.
India is among the largest business areas for TikTok, with over 200 million registered users. The app has been downloaded over 660 million times since its launch, and its parent firm ByteDance employs over 2,000 people in India. Some of the biggest US investors back ByteDance, including Coatue Management, General Atlantic, and Sequoia Capital.
Many country officials have expressed concerns regarding TikTok sharing user data with the Chinese government. The app has continually denied receiving any such requests from the Chineses government and stated that it wouldn’t respond if questioned about the same.
