As expected, Chinese users are now calling out the China-based company ByteDance for its further plans to sell their famous app, TikTok, to American investors. On their social media platform, Chinese users are currently calling ByteDance as a 'traitor' for partnering with United States investors.
Chinese users aren't happy with ByteDance selling TikTok
Though Chinese users demand ByteDance to remove partnerships with American investors, it was different for Chinese startups and investors.
Experts think that ByteDance was left with no choice but to sell the app or face losing the U.S. as their audience.
"They are stuck between a rock and a hard place," said William Bao Bean, a general partner at Chinaccelerator, a cross-border accelerator backed by SOSV.
"I think it's a good outcome for all sides. Microsoft, of course, benefits hugely from getting into social media. Bytedance gets a good payout, and Bytedance and the Chinese government are relatively friendly towards Microsoft," said AppInChina's Bishop.
For now, ByteDance seemed to be continuing the deal.
This article is owned by Tech Times.
Written by Jamie Pancho
