ByteDance’s TikTok Global Planning for Public Offering

ByteDance, TikTok’s parent company said that TikTok Global will soon launch a public offering of shares in order to enhance the governance structure and transparency for the firm, which will eventually control the organization’s U.S operations.

According to the parent company, a pre-IPO round will also be conducted by TikTok, which will leave ByteDance with only an 80% stake in TikTok. The organization also added that TikTok Global’s board of directors includes the Founder of ByteDance Zhang Yiming and Walmart’s Chief Executives and the present Directors of ByteDance.

However, the current plan doesn’t involve any kind of Algorithm or technology transfer. But as per ByteDance, Oracle has the security access to TikTok’s security codes.

ByteDance also added that a $5 billion payment to be made to the U.S Treasury by TikTok Global is completely based on the estimated income and other taxes the company needs to pay over the course of the next few years, which has nothing to do with the deal that has been agreed upon with Oracle and Walmart.  

Earlier on Sunday, A U.S judge blocked the administration’s order of removing Chinese owned app WeChat for downloads from Google and Apple’s app store.

On Friday the U.S Commerce Department had issued an order on the grounds of national security to block the messaging app from U.S app stores.

Currently, as much as 100 million and as much as 19 million Americans use TikTok and WeChat respectively. WeChat the messaging app is mainly popular amongst the Chinese students and few Americans who have a personal or business relationships with China.

Share Now

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on whatsapp

get your ad spaces


explore other articles


Since the last few years, organizations are trying to move away from paper documents and opting for digitized document control systems. The Covid-19 pandemic has helped to accelerate this trend …


Have you adopted a POS system for your business? No? If you haven’t adopted a POS system for your businesses in order to handle customer transactions you might be falling …


Running a small or medium-sized business is no joke, in these kinds of businesses often employees need to juggle between various tasks including regulatory filings, tax records, bookkeeping, etc. So, …


It is pleasing that technology has helped us to change our lifestyle and have some means of soothing ourselves in all areas of life. We cannot advance or do much …

you may also like


Modern technology has many benefits but with so many advantages it comes with few disadvantages too. Especially the technologies that we use in our daily life can change our personalities, …


The success of your website depends on the web design basics. If your website is designed well, it will improve your visitors’ trust and help you to improve your business. …

Do you remember the late 90’s and early 2000’s? When we had chat clients like AOL and Yahoo messenger. These messenger services were at rage during that time. However, with …


Shares of Chinese gaming and social media company Tencent (0700.HK) fell more than 2% on Thursday. This news just came after India banned 118 mobile apps, including Tencent’s popular gaming …