TikTok’s parent company ByteDance has denied being in preliminary talks to list the video app on the New York Stock Exchange (NYSE), China’s Global Times newspaper tweeted on Wednesday.
— Global Times (@globaltimesnews) February 17, 2021
“ByteDance responded on Wednesday that the previous media reports over the company being in preliminary talks to list TikTok in New York was not true”, the Global Times reported.
The newspaper said earlier, citing sources, that ByteDance was in preliminary discussions to list TikTok on the NYSE.
ByteDance Ltd. is a multi-national internet technology company headquartered in Beijing. It was founded by Zhang Yiming in 2012. Chinese internet technology firm ByteDance created TikTok, in September 2016 after witnessing the success of a similar app Musical.ly.
Last year, the Indian government banned 59 apps with Chinese links, including hugely popular TikTok and UC Browser, saying they were prejudicial to sovereignty, integrity and security of the country.
TikTok added that it continues to comply with all data privacy and security requirements under the Indian law and has not shared any information of its users in India with any foreign government, including the Chinese government.