ByteDance denies TikTok is for sale

Chinese social media company ByteDance has denied reports that it has considered selling part or all of its popular short form video platform TikTok.

Bloomberg reported on December 23 that ByteDance was weighing options of a sale due to concerns from the US government over how it stores and uses personal data.

ByteDance has taken steps to separate its TikTok business from the rest of its Chinese operations in a bid to reassure the authorities.

However, its president Alex Zhu said these steps do not include a sale.

“From time to time you may read stories in the media that are not true. Today there is an inaccurate report claiming that ByteDance has considered selling part or all of TikTok,” Zhu said in an internal company note seen by Reuters.

“We went on the record saying it was not true, but they decided to publish it anyway. I want to assure you that we have had no discussions with potential buyers of TikTok, nor do we have any intention to.”

A ByteDance spokeswoman added that there had “been no discussions about any partial or full sale of TikTok”.

“These rumours are completely meritless,” she said.

In the UK, TikTok recently promoted head of EMEA marketing Richard Waterworth to UK general manager, a role giving him full responsibility for the social media firm’s UK operations. It followed similar moves in key markets, including the US and India.

The Chinese-owned company was recently valued at USD$75bn but has yet to introduce a formal advertising product on to the site. However, brands have been experimenting with the platform, despite well publicised brand safety issues earlier this year.


MARKETING Magazine is not responsible for the content of external sites.

The APPIES is an annual event that presents a rare opportunity for creative, media, digital and marketing agencies or brands to present their best campaigns to the industry.

This is the only event where Live Presentations meets Live Judging.

Similar to TED Talks, The APPIES is the chance for great presenters with outstanding work to show it off to some of the industry’s most important industry leaders.

This year’s winners will receive Gold, Silver or Bronze trophies for 21 categories, and 6 special Best of Best categories (red trophies) that require no submissions!

Campaign entries must have run between June 2023 to May 2024

Submissions Deadline
30th June 2024

APPIES Festival – Judging & Presentations
11th – 12th July 2024 (Malaysia)


Download Event PDF
Submit Entries Here

Subscribe to our Telegram channel for the latest updates in the marketing and advertising scene