ByteDance believes it can legally prevent TikTok from being banned in the US, but if that fails, it won't sell it either.

The owner, ByteDance, would rather shut down TikTok than sell it – and several sources have spoken about this To Reuters. The parent company primarily wants to prevent a US ban on the unprofitable video-sharing company by legal means, but if this fails, it will not extradite it to the US either.

The reason for this is that the algorithms used by TikTok are core to ByteDance's operation, but only a small number of the company's revenue and users come from the social media platform. the To Reuters The employees who spoke requested anonymity, and ByteDance has not officially commented on the reports.

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However, ByteDance said Thursday in a statement posted on Toutiao, another social platform it owns, that it has no plans to sell TikTok. TikTok CEO Shou Zi Chew said on Wednesday that he believes they will be able to fight legally to keep TikTok available in the United States.

US President Joe Biden on Wednesday signed the law giving ByteDance one year to sell Tiktok. Recently, a former US Treasury Secretary signed up to buy the platform, which we wrote about here.