Faced with the threat of a U.S. ban on TikTok, its parent company ByteDance has made it clear to some investors that the plans to focus more on growth in the Chinese market, The Information cited a ByteDance investor as saying.
ByteDance's approach is to expand into new areas and try to develop a new popular app, the report said.
While ByteDance is facing increasing international pressure on TikTok, its China business is Thriving.
Growth was driven by its China app suite, including Douyin and Toutiao. In the first quarter of this year, ByteDance generated more than RMB 40 billion ($5.7 billion) in advertising revenue.
While ByteDance is once again focusing on expanding its China business, according to sources ByteDance founder Zhang Yiming unlikely to consider selling TikTok at this time.
Zhang Yiming is still determined to build a global company, the person said, and the sale of the company would not be enough. TikTok will also pose some practical problems: outsiders will have access to ByteDance's computer code. and its content recommendation engine.
According to another person familiar with Zhang Yiming's thinking, Zhang Yiming is reluctant to give up his The value of TikTok has been built over time by ByteDance.
In the past few weeks, ByteDance has faced a rapidly changing global environment, especially for TikTok.
The Indian government has banned dozens of Chinese apps, including TikTok.
U.S. government officials have again floated the idea of a ban.
Amazon sent an email to all of its employees last Friday asking them to uninstall TikTok from their phones, in a move that also shows that U.S. businesses may accelerate the banning of TikTok.
While Amazon has since changed its tune, U.S. bank Wells Fargo and various US government agencies have issued similar directives.
