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Soon after President Joe Biden signed the bill forcing ByteDance to sell the app, the company said it would not sell the app, calling reports otherwise “untrue.” ByteDance is challenging the bill in court, indicating it is not done fighting for its survival.
China-brd parent company ByteDance is facing a possible U.S. ban if it fails to sell the website within the next year after President Joe Biden signed legislation mandating the firm sell the platform or be prohibited in the United States. The entity will have until January 2025 to locate a buyer, though company leaders say they do not intend to sell....
TikTok’s Chinese parent company, ByteDance, said it will not sell the popular video sharing app to continue its business in the U.S., despite facing a potential ban under a law President Biden signed Wednesday. The bill, included in a foreign aid package Biden signed, gives ByteDance up to a year to sell TikTok or be banned from operating in the U.S. The proposal was fueled by national security concerns raised by the supporters, who argued the Chinese government could compel TikTok to share U.S. user data.
“I’ve actually spoken to a lot of tech companies on working about rebuilding this,” Mnuchin said Tuesday in an interview with Bloomberg Television. “I do believe the algorithms could be rebuilt. So my plan, if we were to purchase, it would be to rebuild the technology under US leadership, make sure that it’s all disconnected from ByteDance...
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