TikTok Parent Company Preparing to Shut Down App if it’s Not Sold

The future of TikTok remains up in the air and, without a sale, we could see the popular social media platform become a thing of the past. Following news that TikTok CEO Kevin Mayer stepped down after just months on the job, there are reports that the app could be shut down altogether if no sale agreement is reached.

Without a sale, the app could be banned in the United States.

According to the New York Post, TikTok’s parent company ByteDance is “making separate plans for TikTok‚Äôs American employees and vendors to be compensated in the event that the app is banned. ”

However, there has been some good news in recent days with reports that Microsoft and Walmart could be partnering to purchase the platform.

TikTok is based in Beijing. It has been downloaded over 110 million times in the United States.

The company, however, claims that its servers are based out of China and that they are committed to transparency for its users. The app is also not available within China.

“At TikTok, we take these issues incredibly seriously as well. We are committed to transparency and accountability in how we support our TikTok users in the US and around the world,” the statement from TikTok read. “TikTok does not remove content based on sensitivities related to China. We have never been asked by the Chinese government to remove any content and we would not do so if asked. Period.”

TikTok was first launched in 2017 and is available for download on iOS and Android devices. Earlier this year, TikTok hit one billion downloads globally with the app available in over 150 markets and 75 languages.

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