TikTok’s parent company ByteDance has denied that it is preparing to list its video app on the New York Stock Exchange (NYSE). China’s Global Times Newspaper reported this by tweeting on 17 February.
According to the Global Times report, “Bytdance said on Wednesday that the list of things being done in the media about TickTock in New York is wrong.” The newspaper previously quoted sources as saying that ByteDance is preparing to list TickTalk in the NYSE.
What is ByteDance’s plan in India?
The Indian government has imposed a permanent ban on TikTok. In such a situation, news has come that Byte Dance is preparing to sell its business in India. TikTok had more than 200 million users here. ByteDance plans to sell the functioning of TikTok India to rival company Glance. Mobile content provider company is InMobi’s parent company, Glance. Negotiations between the two companies are underway for this deal. For this, Japana’s technology company SoftBank has started talks with Byte Dance. Let me tell you that SoftBank has a big investment in BiteDance as well as Glance.
According to a Bloomberg report, negotiations are underway between Softbank, ByteDance and Glance to buy Tiktok India and if the deal is finalized, it will have to seek approval from the Indian Authority, ie the Indian government. The Indian government had banned hundreds of Chinese apps in the country citing security and privacy of users after the border dispute with China. TikTok was also included in the opting ban in Barat.