Beijing-based ByteDance is considering a range of options for TikTok amid pressure from the United States to relinquish control of the app
, which allows users to create short videos with special effects and has become wildly popular with U.S. teenagers. The app’s success has helped turn ByteDance into one of only a handful truly global Chinese conglomerates.
It is unclear whether ByteDance’s founder and CEO, Yiming Zhang, will be satisfied with the offer. ByteDance executives recently discussed valuation projections for TikTok that exceed $50 billion, one of the sources said. If a deal for the whole of TikTok cannot be reached, ByteDance is exploring divesting only TikTok’s U.S. operations, one of the sources said. It is not clear what such a deal would be worth and what ties TikTok in the United States would maintain with its global operations.
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