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. The Beijing-based company is purchasing more cloud-computing servers in Singapore to backup U.S. data for contingency, the source added.

ByteDance declined to comment when contacted by Reuters.