ByteDance, the parent company of TikTok, has announced that it will not sell the popular video sharing app in order to continue its operations in the U.S. This decision comes despite potential legal action against the company under a law signed by President Biden on Wednesday.
The law gives ByteDance up to a year to sell TikTok or face a ban on operating in the U.S., and was prompted by national security concerns that the Chinese government could force TikTok to share user data from the U.S. However, ByteDance is standing firm in its decision not to sell the app, even if it were to be acquired by another company in the U.S.
This move is significant as it marks the most serious threat faced by TikTok in the U.S., but ByteDance is determined to keep running its app for users, regardless of what happens next. The company released a statement on Toutiao, its news aggregation app, refuting reports that it was exploring options to sell TikTok without its algorithm.
ByteDance has also announced that it will take legal action against President Biden’s executive order banning TikTok in the United States, stating that they will fight this ban both domestically and internationally and seek to challenge this order in court.
In light of these developments, ByteDance is prepared for any outcome and is committed to keeping TikTok running for its users while defending their position against legal challenges.
