Left Menu
Development News Edition

ByteDance to invest billions, recruit hundreds in Singapore in 3 years - source

ByteDance, the owner of popular short-video app TikTok, is planning to invest billions of dollars and recruit hundreds of employees in Singapore over the next three years, a person familiar with the matter told Reuters on Friday.

Reuters | Updated: 11-09-2020 11:19 IST | Created: 11-09-2020 11:00 IST
ByteDance to invest billions, recruit hundreds in Singapore in 3 years - source
Representative image Image Credit: Twitter (@BytedanceTalk)

ByteDance, the owner of popular short-video app TikTok, is planning to invest billions of dollars and recruit hundreds of employees in Singapore over the next three years, a person familiar with the matter told Reuters on Friday. The company's plans about setting up a new data centre in the city-state is untrue, the source said, adding that the Beijing-based firm had stepped up the purchase of cloud-computing servers in Singapore to backup U.S. data for contingency.

Separately, a company source said TikTok had moved some engineers to Singapore from China, starting this year. Bloomberg earlier reported https://bloom.bg/2RfslmZ that ByteDance was planning to make Singapore its beachhead for the rest of Asia as part of its global expansion.

The news was first reported by Bloomberg earlier on Friday. The investment comes as ByteDance is being forced to sell TikTok's U.S. assets under pressure from the Trump administration, which has cited potential national security risk due to the vast amount of private data the app is compiling on U.S. consumers.

According to a Bloomberg report on Thursday, the company is likely to miss the Sept. 20 deadline imposed by U.S. President Donald Trump for the sale of assets, as new Chinese regulations have complicated deal talks with bidders Microsoft Corp and Oracle Corp.


TRENDING

OPINION / BLOG / INTERVIEW

New farm bills in India: Focusing on farms or farmers?

... ...

Kenya’s COVID-19 response: Chaos amid lack of information

Confusing numbers and scanty information on how effective curfews and lockdowns have been in breaking transmission have amplified coordination and planning challenges in Kenyas response to COVID-19. Without accurate data, it is impossible t...

Farkhad Akhmedov: Calculating the price of impunity from the law

In insistences such as the battle over the Luna, Akhmedov has resorted to extreme legal machinations to subvert the High Courts decision and keep his assets from being seized. ...

Guinea’s elections hearken back to the autocracy and violence of its past

... ...

Videos

Latest News

Maha housing society office-bearers booked post COVID-19 death

The chairperson and secretary of a housing society in Dombivali in Thane were booked after a resident died of COVID-19 and the local civic body complained the duo had allowed a clothes sale in the premises in violation of lockdown norms, po...

Upset in Seychelles presidential election as incumbent loses

The Seychelles presidential election has seen an upset, with the electoral commission on Sunday declaring longtime opposition contender Wavel Ramkalawan the winner over incumbent Danny Faure. The ruling party has been knocked from power for...

First Black American cardinal is outspoken civil rights advocate

Wilton Gregory, the first African American to be named as cardinal and known as a refined diplomat, made headlines when he blasted President Donald Trumps photo opportunity hoisting a Bible at a Washington church after police used tear gas ...

Afghanistan: UN Mission voices ‘deep revulsion’ over deadly bomb attack on Kabul college

Many of the dead and wounded were children, said UNAMA, in a deliberate targeted attack at a Kabul college a callous and senseless war crime, the mission added, in messages posted to its Twitter account.At a time when Afghans should feel...

Give Feedback