While TikTok represents a small portion of ByteDance's revenues and daily active users, the company is inclined to opt for a shutdown in the US instead of a sale to an American buyer in a worst-case scenario.
China has branded the United States vote on a bill that forces TikTok to sever ties with Chinese parent company ByteDance as “following the logic of a bandit”, and that Beijing is ready to “take all necessary measures” to protect the interests of its companies overseas.
TikTok is fighting back after the US House of Representatives passed legislation that forces China-based ByteDance to divest its stake in the app, saying a potential ban will take away billions of dollars from content creators and small businesses as well as putting more than 300,000 American jobs at risk.
