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Business

TikTok’s headquarters could move outside China

By
Nicolas Vega
Published Dec. 23, 2019, 6:07 p.m. ET

TikTok’s parent company is looking to move its headquarters outside of China amid rising global security concerns about the popular video-sharing app.

Senior executives at Beijing-based ByteDance are considering Singapore as a potential landing spot, as well as London and Dublin. There are no American cities in the running, according to the report.

TikTok, which has a Los Angeles office for its US operations, has been under intense scrutiny by the US government in recent months, with a national security review opened into the app in November.

Sen. Chuck Schumer and Sen. Tom Cotton requested in October that intelligence officials investigate the company’s $1 billion acquisition of US social media app Musical.ly, which was then rebranded as TikTok and became a mega-hit.

Also last month, Schumer urged the US Army to stop using the nation’s most downloaded app to attract recruits, arguing that China requires companies based there “to support and cooperate with intelligence work controlled by the Chinese Communist Party.”

ByteDance has denied that China’s government has a say over its content or power over its data, although there have been reports that TikTok staffers have been asked to remove content that offends Beijing.

About 60 percent of TikTok’s 26.5 million monthly active users in the US are ages 16 to 24, the company said this year.

The video app has grown increasingly popular among American teens and 20-somethings at a time of mounting tensions between Washington and Beijing over trade and technology transfers.