Chinese government changes for the sale of TikTok
Some steps have been taken by the Chinese government for the sale of TikTok. Selling US operations of the social media app has become possible. Source: Chinese government changes for the sale of TikTok
In order for the China-based TikTok app accused of data breach and espionage to remain in the US, it was confirmed by a decree that its operations in the country should be sold. The Chinese government gave the green light for the sale of TikTok, which giant companies such as Microsoft, Oracle and Walmart aspire to.
BEIJING MANAGEMENT WILL TAKE A ROLE IN THE SALES OF TIKTOK
According to new reports, based on Chinese executives, the Beijing administration will also play an active role in the acquisition of TikTok’s US operations by a US company. The restrictions and prohibitions previously imposed on the sales of technological companies and systems were removed. The Chinese government will now receive applications for certain sales. As a result of these applications, the export of the approved products will be possible. One of the major obstacles in China for the sale of TikTok has thus been removed. Because it is categorized as a special product in terms of its application state. Because the export of the discover algorithm system used in the system was prohibited. Only with the approval of the trade applications to be made to the governorships, the sale will be possible.
Breaking news: TikTok CEO Kevin Mayer resigns
TikTok, one of the most used social media platforms in the world, received a shocking news of resignation. Tiktok’s CEO Kevin Mayer, whose US president Donald Trump banned its use in the country, announced that he resigned with a sudden decision.
According to the news announced by Reuters as a last minute development, Kevin Mayer, the CEO of TikTok, the popular social media application, announced his resignation.
It had only been three months since Mayer left his job at Disney and came to TikTok with great hopes. It had only been three months since he took this post.
Kevin Mayer was brought in by the Chinese company ByteDance, which owns TikTok.
Mayer also left a letter to the company employees while leaving his post. “In recent weeks, as the political environment has changed sharply, I have assessed what changes in the institutional structure entail and what this means for the global role I am a part of. Despite all this negative environment, I believe that everything will be resolved, but I have to report with regret that I decided to leave my duty. “