TikTok’s top bosses in the US are exploring the possibility of separating from parent company, ByteDance, amid rising concerns over the safety of Americans’ data and its links to the Chinese government, according to Bloomberg.
The move would require approval from Beijing and could lead to a sale or TikTok going public via an initial public offering.
The financial news group, citing sources with knowledge of talks, said that a separation from ByteDance is seen as a last resort.
TikTok is currently under review by the Committee on Foreign Investment in the United States over security concerns.
Reports suggest that the review has failed to address regulators’ concerns over ByteDance’s connections to the Chinese Communist Party.
US President Joe Biden signed a bill in December banning TikTok on most federally owned devices, and there are concerns over the possibility of surveillance by the Chinese government.