ByteDance will file for the initial public offering (IPO) of TikTok Global, the new company that will operate the popular short video app, should their proposed deal be cleared by the White House, according to Reuters.
The filing of an IPO for TikTok Global would be on a US stock exchange and could come in about a year, the report said.ย
ByteDance has not yet responded to the report.
TikTok is not for sale, Oracle will become trusted technology provider in big reversal
TikTok is a subsidiary of ByteDance, which operates the the company's overseas short-video business.
According to legal documents filed by ByteDance against the US government, TikTok had 689 million monthly active users worldwide as of July this year, with more than 100 million in the US and over 100 million in Europe. As of August this year, TikTok has been downloaded more than 2 billion times worldwide.
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