According to reports, ByteDance is considering selling TikTok to a non-tech company, but they do not plan to include the algorithm in the sale.
On April 24, 2024, a bill was signed into law by President Joe Biden that stipulates ByteDance must sell its shares of TikTok within nine months or risk being banned in the United States.
Shou Zi Chew, CEO of TikTok, promptly responded and affirmed that the company intends to challenge the ruling in federal courts. This has led numerous users to believe that ByteDance has no intention of divesting its ownership of the platform.
The Information has reported that ByteDance is currently considering various options for divesting its majority ownership in TikTok. The company is reportedly seeking a buyer outside of the Tech industry and has no intentions of including its algorithm in the sale of the app.
The news spread rapidly on social media, with many expressing the same sentiment: TikTok just isn’t the same without its current algorithm.
Following the report, Reuters quickly reported that ByteDance has refuted The Information’s claim that they are considering selling the app.
According to reports, the statement was made on the company’s Toutiao media platform.
To stay updated on the ongoing developments of the TikTok divestment or potential ban, you can stay informed on the latest updates between the US Government and TikTok here.
Leave a Reply