ByteDance Plans To Make Singapore A Base For Developing Operations In Asia
The Chinese company ByteDance, which is the owner of the TikTok app, plans to make Singapore its springboard for developing activities in Asia, Bloomberg reported, citing sources familiar with the matter.
According to sources, ByteDance intends to spend several billion dollars and create hundreds of jobs in Singapore over the next three years. According to one of them, there are already 400 employees of the company involved in technology, sales, and marketing. "There are plans for Singapore to create a data center," Bloomberg's interlocutors noted.
The Agency responds that ByteDance is successfully implementing plans to promote its social networks in Asia after failures in India and the UK, as well as in the US. US President Donald Trump demanded that ByteDance sell its business in the country to a local company before September 15, otherwise, TikTok will be banned. In India, TikTok is among more than a hundred Chinese apps that are banned by the government for security reasons.
Southeast Asia is fast becoming an important region for China's largest technology corporations, the Agency said, especially in the face of growing hostility from the United States. Singapore is becoming a regional base for both Western and Chinese companies due to its developed financial and legal system.
TikTok is an application for creating and viewing short videos, owned by the Chinese company ByteDance. Released in 2018, it has become a leader in the short video app segment in China and is gaining popularity around the world.