Bytedance plans US IPO for Tiktok: report · TechNode

Bytedance is planning to list Tiktok Global, a joint venture set up to operate the short-video app in the US, pending approval of the proposed deal by the US government, Reuters reported.

Details: The joint venture, dubbed Tiktok Global, will have a majority of American directors, a US chief executive, and a security expert on the board, according to Reuters, citing people familiar with the matter.

READ MORE: 8 things to know about the Chinese tech giant behind Tiktok

  • Oracle has agreed to ultimately take a 20% stake in Tiktok Global.
  • According to a proposed deal to settle the Trump administration’s order to divest Tiktok, Oracle and possibly Walmart would hold at least 60% of Tiktok’s US operations.
  • The White House and Bytedance have agreed to a term sheet on some aspects of a deal but US President Donald Trump hasn’t yet approved it.

Go deeper: ByteDance plans TikTok IPO to win U.S. deal as deadline looms: sources – Reuters

Wei Sheng is a Beijing-based reporter covering hardware, smartphone, and telecommunications, along with regulations and policies related to the China tech scene. Before joining TechNode, he wrote about…

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Written by Aakash Malu


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