TikTok to Shift Headquarters From China to Address US Concerns

TikTok'due south parent company, ByteDance, is reportedly because setting up its global headquarters outside China. That's co-ordinate to The Wall Street Journal, which says the company is looking at the drastic step to appease US lawmakers and security establishment, who have oftentimes expressed concerns at the company's Chinese origins and claimed that it poses a national security risk.

ByteDance recently announced that it would set up a data center in India to comply with the country's data-privacy laws, merely it isn't immediately clear where the visitor plans to gear up up its new headquarters. Every bit per the written report, the possible locations for include Singapore, London and Dublin. The new HQ could also bring TikTok closer to markets in Southeast Asia, India, Europe and the US, all of which take contributed to the app's massive growth over the by couple of years.

ByteDance reported a profit in Bharat for the first time this year, registering Rs 43.7 crore in revenue and Rs 3.4 crore in net profit, co-ordinate to Inc42. With over 200 million users, India is the biggest market for TikTok, but it has too been mired in several controversies over the past few months. The app was even banned for a few days in Bharat for allegedly unsavoury content before the ban was lifted past the Madras High Courtroom.

The app, forth with its parent company ByteDance and Musical.ly (which was caused past ByteDance in 2017 and rebranded as TikTok) are all being sued in the United States for allegedly mishandling personally identifiable data about children. However, in spite of all the controversies, the growth of the app continues unabated, with a Sensor Tower written report earlier this month claiming that it has surpassed 1.5 billion downloads on the App Store and Google Play combined, with 31 percent (468 1000000) of all unique installs coming from India.