Exclusive: TikTok’s parent company ByteDance has quietly made a series of moves in recent months to transfer global decision-making and research capabilities out of its home country, sources say via alexalper DEER_ECHO_ and yingzhi_yang
BEIJING/NEW YORK/WASHINGTON - TikTok’s poaching of Disney’s Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions, several people familiar with the plans said.
The strategy is aimed not only at TikTok, which is not available in China, but all of ByteDance’s non-China focused businesses, the sources said. Such businesses also include units in India like social networking app Helo. The new hire, Michelle Huang, is a former SoftBank investor who worked on the Japanese firm’s investment in ByteDance. Huang did not immediately respond to an emailed request for comment.
More broadly, ByteDance is also recruiting engineers around the world, including in Singapore, Jakarta and Warsaw, online job postings show. TikTok, which allows users to create short videos with special effects, has become wildly popular with American teenagers doing viral challenges that pair dances with music clips from the app’s library.
Legal experts said regulators would study TikTok’s latest actions to determine if they mitigated any potential risks and were more than cosmetic touches.
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