ByteDance, the Chinese parent company of TikTok, has stated that it will not sell the popular video sharing app in order to continue its operations in the U.S. This decision comes despite the potential ban that the company faces under a law signed by President Biden on Wednesday.
Included in a foreign aid package signed by Biden, the law gives ByteDance up to a year to sell TikTok or face a ban on operating in the U.S. This move was prompted by national security concerns that the Chinese government could force TikTok to share user data from the U.S.
This threat is the most serious that TikTok has encountered in the U.S. so far, but ByteDance is standing firm in its decision not to sell the app. The company released a statement on Toutiao, a news aggregation app it owns, refuting reports that it was exploring options to sell TikTok in the U.S. without its algorithm.
ByteDance made it clear that there are no plans to sell TikTok, even if it were to be acquired by another company in the U.S. This is due to Chinese export regulations that would likely restrict the transfer of the app’s algorithm, which has been a key factor in its popularity.
In order to challenge the law signed by Biden, TikTok announced that it would take the matter to court. Previous attempts to ban TikTok, both during the Trump administration and at the state level, have been blocked by the courts.
Given the uncertainty surrounding TikTok’s future in the U.S., ByteDance is prepared to defend its position and keep the app running for its users.