ByteDance to float TikTok Global to allay transparency fears

ByteDance to float TikTok Global to allay transparency fears

Martin Farrer and agencies 21/09/2020

Parent company ByteDance, under pressure in China not to give in to US demands, said the plan ‘does not involve the transfer of any algorithms’

A new company set up to allow TikTok to continue operating in the United States plans to float on the stock market in an effort to increase transparency and show the Trump administration that it will adhere to regulatory oversight.

TikTok Global plans to hold a public listing, its Chinese parent company ByteDance said Monday, after announcing a deal over the weekend that would avert a shutdown of the popular app in the US.

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