ByteDance, the Chinese owner of short video platform TikTok, is reportedly planning to go public as early as of next year, after the addressing the concerns over the data security raised by China’s state regulators.
In December, the company waged nearly $5 billion at a $180 billion valuation. The Chinese multinational is therefore expected to list in Hong Kong either in fourth quarter of the current year or in early 2022.
An unnamed person familiar with the issue of how the group collects, stores and uses personal data of consumers stated, “We are expecting final guidance from ByteDance in September. They submitting all the fillings with Chinese authorities right now and are going through the review process.”
