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ByteDance is rehearsing for its public debutINTL

ByteDance is rehearsing for its public debut

Fake news! It turns out ByteDance, the owner of TikTok, is not in preliminary discussions to list on the New York Stock Exchange, though a government newspaper published by the Chinese Communist Party reported that it was. After sharing the rumor on its Twitter page, the government newspaper tweeted that ByteDance had denied the report.

The rumor wasn’t far-fetched, though, as ByteDance has been working for months to strike a deal to shift TikTok’s American assets into a separate entity, following pressure from the US government (initiated by the Trump administration) over national security concerns.

why it matters
While this announcement has proven to be an unsubstantiated rumor, many in the business world believe it is only a matter of time before TikTok goes public. Talk about a hot IPO!