bytedance
ByteDance agreed to divest from U.S. operations of the app after President Trump said he planned to ban it entirely, according to sources.
Some countries have banned the Chinese short-form video-sharing app because of privacy and security concerns, and the U.S. may follow suit.
The app, which is facing increasing scrutiny in some countries over security risks, maintains that it has not and will never share user data with China.
TikTok, which is not available in China, is owned by China’s ByteDance.
Among the most popular of the banned apps was ByteDance’s TikTok which counted India as its top growth market accounting for 30% of its 2 billion global downloads.
The ban has also left Tencent disappointed, which has apps on the market and is also a major investor in Indian startups, two sources aware of the company’s concerns told Reuters.