TikTok
Won't divest stake in TikTok: Asserts Chinese Parent Company to US
In a social media post, ByteDance, the parent company of TikTok, stated that it has no intention of selling its stake in TikTok, thus responding to earlier reports by The Information that ByteDance was reportedly considering selling its US operations.
TikTok CEO warns users about ban ahead of US Congress hearing
In a minute-long video on TikTok, Chew thanked the TikTok community of 150 million Americans ahead of his congressional hearing. That's almost half of the US coming to TikTok, including 5 million US businesses. The majority of these are small and medium businesses," he mentioned. TikTok has about 7,000 employees in the US.
Sell stake in TikTok or face ban, US demands from Chinese firm ByteDance
According to The Wall Street Journal, the White House's threat is an escalation from the limited bans and pending legislation that have been growing up for some time. The Committee on Foreign Investment in the US made the sale demand, according to the report.
Chinese app TikTok sacks entire India staff: Report
According to a report in The Economic Times, the ByteDance-owned platform, banned in India in June 2020 over national security concerns, told its employees they would receive up to nine months of severance package. However, most of the staff will only get three-month severance. In June 2020, the government banned TikTok along with 59 other Chinese apps citing security concerns.
TikTok drops e-commerce expansion plans in Europe, US: Report
TikTok has been testing live shopping in the UK since late last year, starting with a multi-brand event called "On Trend" last December. But the Financial Times reported that those shopping live streams have not drawn big audiences or sparked many sales, and some of the creators involved in early TikTok Shop projects have dropped out altogether.
China expresses concern over India's decision to ban its apps, asks New Delhi to ensure ‘non-discriminatory’ policies for foreign investors
“…relevant Indian authorities have taken a series of measures to suppress Chinese companies and their products in India, which have seriously damaged the legitimate rights and interests of Chinese companies… China expressed serious concern about this,” Commerce Ministry spokesperson Gao Feng said. He also expressed concerns about the investment regime in India.
TikTok takes on Facebook with US e-commerce push: Report
The company has briefed advertisers on a number of new features for 2021, according to several people who have seen its plans, such as a tool that lets its most popular users share links to products and automatically earn commission on any sales.
Indian startups want to hire TikTok employees affected by job cuts
TikTok said it decided to downsize the workforce in India as it has not received a clear direction from the government on how and when its apps could be reinstated. Some reports pegged the number of employees who will be affected by the decision at around 1,800, although there is no official confirmation from the ByteDance-owned platform yet.
Homegrown apps capture 40% market share of TikTok since ban
Post ban on TikTok, a huge void was created and nearly 170 million TikTok users were left searching for options to entertain themselves at low cost. TikTok which had nearly 85 million users in India in June 2018, surged to reach over 167 million users by June 2020, when a ban was slapped on the platform over national security concerns.
Advertisement