US trading firm reportedly owns 15% of TikTok-owner Bytedance

  • US trading firm Susquehanna reportedly owns 15% of TikTok-owner ByteDance, a stake which is potentially worth more than $15 billion.
  • Located just outside of Philadelphia, Susquehanna joined a $5 million investing round in ByteDance the year that it was founded, and invested in Musical.ly which later merged into TikTok.
  • Susquehanna is now stuck in the middle of US-China tensions as ByteDance waits for both governments to approve a deal that includes Oracle and Walmart taking a stake in the Chinese company.
  • Visit Business Insider’s homepage for more stories.

US trading firm Susquehanna quietly owns 15% of TikTok parent firm ByteDance, according to the Wall Street Journal, a stake potentially worth billions.

Susquehanna’s stake may be worth as much as $15 billion, according to PitchBook data cited by the Journal. This reportedly makes Susquehanna the biggest external investor in the Chinese social-media company. The firm is a giant in options trading,

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ByteDance Files for China Approval to Export TikTok Tech

(Bloomberg) — ByteDance Ltd., the Chinese parent of video app TikTok, submitted an application in Beijing for permission to export technology, as it tries to work out an agreement with the Trump administration that will avoid a U.S. ban on the service.



a hand holding a cell phone: The logo for ByteDance Ltd.'s TikTok app is arranged for a photograph on a smartphone in Sydney, New South Wales, Australia, on Monday, Sept. 14, 2020. Oracle Corp. is the winning bidder for a deal with TikTok’s U.S. operations, people familiar with the talks said, after main rival Microsoft Corp. announced its offer for the video app was rejected.


© Bloomberg
The logo for ByteDance Ltd.’s TikTok app is arranged for a photograph on a smartphone in Sydney, New South Wales, Australia, on Monday, Sept. 14, 2020. Oracle Corp. is the winning bidder for a deal with TikTok’s U.S. operations, people familiar with the talks said, after main rival Microsoft Corp. announced its offer for the video app was rejected.

The company said it filed the request with the city’s commerce bureau after China tightened restrictions on the export of certain technologies, including those used in TikTok. A spokesman for the commerce ministry acknowledged the filing Thursday, saying it’ll be assessed “in accordance with the relevant rules

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ByteDance asks China for approval to export TikTok technology: report

TikTok’s parent company ByteDance has sought permission from the Chinese government to export technology, Bloomberg reported Wednesday.

ByteDance filed a request with the Beijing Municipal Commerce Bureau asking for approval to export its technology under restrictions recently implemented by the Chinese government, according to Bloomberg.

ByteDance, TikTok, and the Commerce Bureau did not respond to requests for comment.

In August, China expanded its list of “forbidden and restricted technology exports” to include “personalized information recommendation services based on data analysis” — such as the algorithm that powers TikTok. That move threw a wrench in the TikTok deal by requiring the company to obtain a license from the government, effectively giving Beijing veto power over a deal.

Following the announcement of the new rules, ByteDance reportedly considered bypassing that hurdle by selling TikTok without handing over its source code, but Bloomberg’s report Wednesday suggests the company wants the algorithm to be

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ByteDance just asked China for permission to export TikTok’s technology as it tries to finalize a deal with the US government



Xi Jinping wearing a suit and tie: President Donald Trump attends a bilateral meeting with China's President Xi Jinping during the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lamarque/Reuters


© Kevin Lamarque/Reuters
President Donald Trump attends a bilateral meeting with China’s President Xi Jinping during the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lamarque/Reuters

TikTok’s parent company ByteDance has sought permission from the Chinese government to export technology, Bloomberg reported Wednesday.

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ByteDance filed a request with the Beijing Municipal Commerce Bureau asking for approval to export its technology under restrictions recently implemented by the Chinese government, according to Bloomberg.

ByteDance, TikTok, and the Commerce Bureau did not respond to requests for comment.

In August, China expanded its list of “forbidden and restricted technology exports” to include “personalized information recommendation services based on data analysis” — such as the algorithm that powers TikTok. That move threw a wrench in the TikTok deal by requiring the company to obtain a license from the government, effectively giving Beijing veto power over a deal.

Following the announcement of

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ByteDance says it will not transfer algorithm to Oracle

The logos of the Chinese video portal TikTok and the US software and hardware manufacturer Oracle Corporation can be seen on a smartphone and screen on September 14, 2020 in Berlin, Germany.

Thomas Trutschel | Photothek | Getty Images

GUANGZHOU, China — ByteDance will not transfer algorithms and technologies to Oracle as part of a deal announced over the weekend to keep social media app TikTok operating in the U.S.

President Donald Trump said he approved a deal on Saturday that will see the creation of a U.S.-headquartered firm called TikTok Global with Oracle and Walmart taking minority stakes. Oracle will become TikTok’s secure cloud provider and host U.S. user data. 

But the deal does not entail any transfer of algorithms and technologies, according to a statement from ByteDance on Monday. The company said Oracle can instead check the source code. 

“The current plan does not involve the transfer of

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