Byteans, the parent company of Chinese app Ticketcock, has offered to sell the app’s business in the US due to a ban by the government of US President Donald Trump. This information was given by The New York Times on Saturday. Amidst such rumors and pressure from across the week, Trump said on Friday that he was preparing to shut down the functioning of the app in the US. Earlier, media reports said that Trump needed to separate the app’s functioning in the US from ByteDance, but Trump announced the ban.
The report said that the proposed disinvestment would not affect the functioning of Ticketcock outside the US. TikTok, especially popular with younger viewers who make and watch videos on it, has around an estimated one billion users of TikTok worldwide.
But US officials have expressed concern that it may be used as a tool for Chinese intelligence. According to the company, “When we do not comment on rumors or speculation, we believe in the long-term success of TikTok.” Some reports have indicated that Microsoft is in talks to buy TikTok.