🐵 Is Bytedance Owned By China

^{ByteDance owns viral social media apps like TikTok and news aggregators like Toutiao in China. It's now looking to expand its reach into new areas like smartphones.}

For ByteDance, around US$5.8 billion, or 12 per cent of second-quarter sales, were generated from outside China, with the majority coming from TikTok, according to the The Information report. 1

The leaders of TikTok, owned by the Beijing-based tech giant ByteDance, had resigned themselves to selling to some stalwart of American capitalism, like Microsoft or Walmart, if it meant the app ^{The deal values the gaming studio at around $4 billion, two sources told Reuters. The acquisition of the video games studio come as ByteDance, the owner of TikTok and the similar Chinese short}

TikTok is at a crossroads, as U.S. concerns about its Chinese ownership grow. Some officials have explored the idea of forcing a sale to a U.S. company.

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is bytedance owned by china