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What’s - 1 ” - 1 DealBook - 1 Steven Mnuchin - 1 Andrew - 1 Bill Ford - 1 Bobby Kotick - 1
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ByteDance’s U.S - 1 U.S - 1 Susquehanna International Group - 1 CNBC - 1 Activision - 1

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☆ The Big Dilemma Facing ByteDance’s U.S. Investors
  + stars: | 2024-03-15 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +1 min
What’s next for ByteDance’s U.S. investors? DealBook has spoken with people in the know about what these investors, including financial giants like the Susquehanna International Group, can do, with billions of dollars on the line. Mnuchin, a former Treasury secretary, told Andrew on CNBC on Thursday that he was in talks with a “combination of U.S. investors” about a TikTok deal. He added that he had spoken with some of the investors in ByteDance, TikTok’s Chinese parent, about possibly rolling over their stake. of the video game giant Activision Blizzard, also reportedly has been looking for potential partners for a bid.
Persons: What’s, ”, DealBook, Steven Mnuchin, Andrew, Bill Ford, Bobby Kotick Organizations: ByteDance’s U.S, U.S, Susquehanna International Group, CNBC, Activision Locations: Beijing, China, ByteDance
☆ Ex-ByteDance Executive Accuses Company of ‘Lawlessness’
  + stars: | 2023-05-12 | by ( Thomas Fuller | Sapna Maheshwari | ) www.nytimes.com   time to read: +1 min
A former executive at ByteDance, the Chinese company that owns TikTok, has accused the technology giant of a “culture of lawlessness,” including stealing content from rival platforms Snapchat and Instagram in its early years, and called the company a “useful propaganda tool for the Chinese Communist Party.”The claims were part of a wrongful dismissal suit filed on Friday by Yintao Yu, who was the head of engineering for ByteDance’s U.S. operations from August 2017 to November 2018. The complaint, filed in San Francisco Superior Court, says Mr. Yu was fired because he raised concerns about a “worldwide scheme” to steal and profit from other companies’ intellectual property. Among the most striking claims in Mr. Yu’s lawsuit is that ByteDance’s offices in Beijing had a special unit of Chinese Communist Party members sometimes referred to as the Committee, which monitored the company’s apps, “guided how the company advanced core Communist values” and possessed a “death switch” that could turn off the Chinese apps entirely. “The Committee maintained supreme access to all the company data, even data stored in the United States,” the complaint said.
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