Patio Dance Plans for Tech Tok for the initial public subscription was suspended, seeking to comply with the organizational demands from China and the United States, according to the South China Morning Post quoted unknown sources
According to Arab Net faces the owner of the most popular video application in China Douyin difficulties finding a commercial structure that can satisfy both Beijing and Washington. One of the main challenges in the separation of Douyin operations in China for global TIKTOK operations because both applications share the same algorithm, For one of the sources in the report, according to the Arabianity.
The newspaper said a government official in Beijing was involved in control of Bayt Dance, said he had been postponed due to tensions between the United States and China.
This comes, after weeks of speculation about the approaching public offering of Bayt Dance, which she did not seek to the next move, where he was careful and concluded that they do not meet the terms of insertion at the moment.
On the other hand, Bloomberg reported earlier this month that Bayt Dance, which was based on her headquarters was working with two major local assets such as Douyin, Toutiao news complex and Xigua video platform that could combine billions.
The company also appointed the Financial Manager, Zhu Chouzi, who oversaw the IPO of Shaumi Corp. two years ago as financial director.
This appointment raised speculation about the giant plans of social media to advertise its insertion plans, raising its value in the secondary market in recent weeks to more than $ 250 billion, to become the most valuable emerging company in the world.
