Business

Sequoia Capital and other US investors of Bytedance are reportedly considering buying a majority stake in TikTok

Bytedance founder and CEO Zhang Yiming wouldn't be contrary to the sale, according to the media outlet

Investors are concerned about TikTok's future
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  • According to The Information, some US investors of TikTok’s parent company Bytedance are studying the possibility of buying a majority stake in the social media phenomenon;
  • TikTok has been facing threats on being banned in the US, and the deal could be a way to avoid such a decision.

According to a report from The Information, some US investors of the Chinese Bytedance are studying the possibility of buying a majority stake in social media phenomenon TikTok.

The group of investors, which includes General Atlantic and Sequoia Capital, would be discussing the deal with ByteDance’s top officials. According to a previous report from the media outlet, Bytedance founder and CEO Zhang Yiming has said he wouldn’t be contrary to the sale.

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TikTok has been facing threats on being banned in the US – as what already happened in India – due to security concerns from the US government regarding how accessible TitkTok’s user data is to China.