The owner company of TikTok, ByteDance, is reportedly considering corporate restructuring that include the shifting of the headquarters of the video-sharing app operations out of the East Asian nation China. This move might come as the close association of the business with China is hurting it badly.
The move is thought to have been pushed due to the rise in the anti-China sentiment in a country like India, which has already banned the app, moreover, in the United States, the Secretary of State Mike Pompeo has also hinted a decision they are planning to take along the lines of India, as reported by The Economic Times.
India's Ban Affecting TikTok's Business
"As we consider the best path forward, ByteDance is evaluating changes to the corporate structure of its TikTok business. We remain fully committed to protecting our users' privacy and security as we build a platform that inspires creativity and brings joy for hundreds of millions of people around the world," TikTok told ET in a statement.
India has put a ban on 59 apps from China that include TikTok after the border tensions between the neighboring nations escalated and the Indian and Chinese troops clashed in the Galwan Valley, Ladakh, which is near the Line of Actual Control (LAC). The fight resulted in the death of 20 Indian army personnel.
TikTok's Presence in India
The video-sharing platform, which is currently based in China has around 200 million registered users in India and it has been downloaded over 660 million times since the day it got launched in country. Moreover, the parent firm of TikTok, ByteDance employs around 2,000 people in India.
In recent times, officials of many countries have raised questions about security on TikTok. Many of them have raised concerns about the users' data being shared by TikTok to the Chinese government, which the social media platform has continuously denied.