ByteDance, the owner of TikTok, is being pressured to let go of its business in the US, Canada, Australia and New Zealand. The company is still looking to expand elsewhere. And for the Asia region, the company is looking to invest quite heavily in Singapore.
Reports indicate that ByteDance is looking to spend billions over the course of three years on its business. The company is also looking to hire hundreds of employees over the course of three years. Though there is one conflicting detail regarding this expansion.
Bloomberg claims that the company is planning to set up a data centre in Singapore, a fact that Reuters disputed. Instead, Reuters’ sources say the company is looking to instead purchase cloud-computing servers in the country to serve as backup for its data in the US.
ADVERTISEMENT
It also looks like ByteDance won’t be able to come to a deal with prospective buyers by 20 September. New Chinese regulations are reportedly making it difficult for the companies to come to a deal for TikTok. Among the companies that have expressed interest include Microsoft, Twitter, and even Walmart.
That being said, it still remains to be seen in what way any of this will affect users outside of the US, Canada, Australia and New Zealand. Though users can probably expect some turbulence if there really is no deal getting agreed on by 20 September.
(Source: Reuters, Bloomberg via Straits Times)
Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news.
