A ByteDance board member told Caixin Global the company hoped to find an alternative to selling its US TikTok assets while allaying national security concerns, with the aim to keep its presence in the country.
William Ford, chair of private equity company and ByteDance shareholder General Atlantic, told Caixin Global he is optimistic discussions between the US and China would result in a deal in which the company does not have to sell its stake.
Ford noted a number of alternatives are being considered to allow the platform to continue to operate, suggesting a change of control may be viable.
He added talks between US President Donald Trump and China President Xi Jinping have created a more constructive environment, raising hopes of a positive outcome.
President Trump gave TikTok 75 days to line up a US partner and previously suggested a joint venture could be established in which the nation would hold a 50 per cent stake.
US legislation passed in early 2024 banned the service unless a local buyer was found.
The ban was due to go into effect on 19 January.
SensorTower data showed TikTok US drives 88 million hours of consumer engagement per day, about $2 billion in spending each year and the platform holds an 8 per cent share of the digital advertising sector.
Source: Mobile World Live
