Bytedance now says it will not sell its TikTok business in the United States. This partnership by Bytedance comes as an extension of the United States which is now forcing TikTok to sell their business or will block its access.
With this, it also appears that Bytedance will begin to fight the new legislation in court – and possibly close their US operations if unsuccessful and be forced to sell.
TikTok has around 170 million users in the western country, in addition to helping the small business ecosystem in the country. If closed, it is expected to have a high economic impact in the country - while for TikTok, they will lose around 170 million users.
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BUSINESS & MONEY