ByteDance, the parent company of TikTok, has issued a statement denying recent reports suggesting plans to sell the popular social media platform. The company’s denial comes in response to growing pressure from the U.S. government regarding TikTok’s ownership.
A report from The Information had claimed that ByteDance was exploring options for a potential sale of TikTok. However, ByteDance refuted these claims, stating that it has no intention of selling TikTok. This announcement comes shortly after President Biden signed a bill into law that requires ByteDance to sell TikTok or face a ban in the United States.
The Information’s report also mentioned that ByteDance was considering selling its stake in TikTok to companies outside the tech industry. Notably, any potential sale would exclude TikTok’s algorithm, which is integral to the platform’s functionality and user experience.
Meanwhile, amidst these developments, rapper Soulja Boy has expressed interest in acquiring TikTok. Following Congress’s approval of a bill that could lead to a national ban on TikTok, Soulja Boy took to social media, offering to purchase the platform. In a tweet, he wrote, “How much yall want for TikTok? I’ll buy it,” directly tagging TikTok’s official account.
As the situation unfolds, with ByteDance denying plans to sell TikTok and Soulja Boy expressing acquisition interest, the future of TikTok’s ownership and operations remains uncertain amid ongoing regulatory scrutiny.
