ByteDance, the parent company, is considering setting up a global headquarters outside China for its popular video-sharing app, TikTok, people familiar with the matter said today. Singapore is a city byteDance is considering, while other possible locations include London and Dublin, and no us city has shortlisted, according to people familiar with the matter. TikTok does not currently have a head office, although its most senior executives are based in Shanghai.
TikTok, the overseas version of Shake Revenant, is becoming increasingly popular among American teenagers. TikTok said earlier this year that TikTok had 26.5 million monthly active users in the U.S., about 60 percent of whom were between the ages of 16 and 24.
TikTok’s downloads were the fourth-highest in the world in the second quarter, behind Facebook’s three apps, WhatsApp, Messenger and Facebook, according to SensorTower, a market research firm.
Many of its competitors are now eyeing TikTok’s success. TikTok quickly proved that he was an interesting challenge for Google’s YouTube. Now, TikTok has been able to capture some of the most popular YouTuber sons to adopt its platform, while also creating its own star.
In late October, it was reported that the Committee on Foreign Investment in the United States (CFIUS) had launched a so-called national security review of ByteDance’s $1 billion acquisition of Music.ly, a US social media app. Although the deal was completed two years ago, U.S. lawmakers have recently called for an investigation into TikTok, including how it stored personal data.
Subsequently, TikTok said in a statement on its website that all TikTok users’ data in the United States is stored in the United States and a backup system is established for the database in Singapore.
Some analysts say ByteDance is considering setting up a global headquarters for TikTok in an attempt to prove TikTok’s independence.