Chinese net start-up ByteDance, whose globally well-liked app TikTok has raised U.S. security issues, on Tues denied reports that it had been considering AN initial public providing in port within the half-moon of next year.
ByteDance, that is claimed to be valued at up to $75 billion, was rumored by the money Times to be eyeing an inventory within the town despite months of violent political protests there.
The report had cited unidentified sources.
“There is totally zero truth to the rumours that we tend to arrange to list in port in Q1,” the Beijing-based company aforementioned in an exceedingly statement.
It gave no additional details.
With five hundred million users worldwide, TikTok has exploded in quality within the past 2 years, providing a platform for manufacturing and commercial enterprise music-synced videos up to sixty seconds long.
But with China’s growing world technical school ambitions looming ever larger on Washington’s radio detection and ranging, the app’s charm has raised alarm bells within the us.
Two senior U.S. senators last week needed the govt. to check national security risks probably exhibit by TikTok, spoken communication it might leave yank users susceptible to Beijing’s spying.
In a letter to acting Director of National Intelligence Joseph Maguire, Senate Democratic Leader Chuck Schumer and Republican legislator Tom Cotton aforementioned ByteDance can be forced to share user data with Chinese intelligence.
It might conjointly conceivably provide Beijing’s spies a backdoor into users’ smartphones and computers, allegations that ar the same as those being levelled against Chinese telecoms large Huawei, the senators aforementioned.
They known as TikTok “a potential intelligence activity threat we tend to cannot ignore”.
Bloomberg News rumored late last year that Bytedance, that conjointly operates the popular Chinese news and data platform Jinri Toutiao, had closed a spherical of funding valuing the corporate at $75 billion, creating it the world’s biggest in private backed startup.
Investors enclosed giants like SoftBank cluster and KKR & Co.
In a response to the senators’ letter, TikTok wanted to distance itself from China, spoken communication “we aren’t influenced by any foreign government, together with the Chinese government”.
The company’s information centres ar placed outside China and “none of our information is subject to Chinese law”, it said.