TikTok Owner, Bytedance, Breaks Off Talks To Set Up Headquarters In Britain
The Chinese company ByteDance, which owns The TikTok app, has decided to suspend talks with the British authorities about creating a global headquarters for the social network in the UK. The appearance of the head office could provide the creation of about 3 thousand jobs.
The Chinese Corporation for several months held talks with the Department of international trade of the UK and representatives of the Prime Minister's office at 10 Downing Street. As a source of the newspaper notes, ByteDance suspended further discussions due to "the broader geopolitical context."
According to an unnamed person, the company is considering reviving plans to establish a headquarters in the United Kingdom if relations between China and Western countries improve. The source of the newspaper noted that the negotiations were constructive. However, according to him, a decision is not expected soon.
At the same time, TikTok announced its readiness to invest in the creation of its infrastructure in the UK. "We remain committed to [the idea of] investing in London and [want to] inspire creativity and bring joy to our users around the world through our products and platforms," the Sunday Times quoted a social network representative as saying.
The TikTok app allows users to post short videos on a social network of the same name. It was developed by the Chinese company ByteDance and launched in China in 2016 under the name Douyin. On the international market, the app under the well-known name was introduced in 2017 and became available for iOS and Android operating systems. According to recent estimates, the number of TikTok users in the world exceeds 700 million people. And the social network is popular among the residents of about 150 countries.