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NEW YORK (AP) — Jennifer Lopez, Bad Bunny, Chris Hemsworth and Zendaya will join Vogue’s Anna Wintour as co-chairs of this year's Met Gala, the magazine and the Metropolitan Museum of Art revealed Thursday. And the dress code? The dress code ties into the theme of this year's gala, which aligns with the spring exhibition at the Met's Costume Institute. Photos You Should See View All 22 ImagesHonorary chairs are Loewe creative director Jonathan Anderson and TikTok CEO Shou Zi Chew. ___For more on the Met Gala, visit https://apnews.com/hub/met-gala
Persons: — Jennifer Lopez, Bad Bunny, Chris Hemsworth, Zendaya, Vogue’s Anna Wintour, Wintour, Loewe, Jonathan Anderson, Shou Zi Chew, ___ Organizations: Metropolitan Museum of Art Locations: TikTok
CNN —Fashion’s biggest night of the year is just around the corner, and the Met Gala red carpet theme has finally been announced — along with superstars Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth as this year’s co-chairs. Florals are sure to abound on this year’s red carpet thanks to the theme “The Garden of Time,” but the novel it takes inspiration from has darker undertones. (Pictured above: Rihanna at the 2023 Met Gala.) “One thing I hope this show will activate is that sensorial appreciation of fashion.”The year’s co-chairs — alongside Vogue editor-in-chief, Anna Wintour — include Met Gala mainstays and debuts. The Met Gala theme often vacillates between straightforward retrospectives (such as the event’s 1996 homage to Christian Dior, and the 1997 theme dedicated to Gianni Versace) and more artful, subjective prompts.
Persons: CNN —, Zendaya, Jennifer Lopez, Bad Bunny, Chris Hemsworth, J, Ballard, Princess Aurora, Rihanna, Dimitrios Kambouris, ” Andrew Bolton, Wendy Yu, Anna Wintour —, Hemsworth, Loewe, Jonathan Anderson, Shou Zi Chew, Karl Lagerfeld’s, Christian Dior, Gianni Versace, Count Axel Organizations: CNN, New, Metropolitan Museum of Art, Vogue Locations: British
The suit alleges that Meta , Snap , ByteDance and Google (whose parent company is Alphabet ) knowingly "designed, developed, produced, operated, promoted, distributed, and marketed their platforms to attract, capture, and addict youth, with minimal parental oversight." They claim that New York's school districts and various health and social services have been severely impacted by children who have suffered negative mental health consequences stemming from their use of popular social media apps. "In collaboration with youth, mental health and parenting experts, we've built services and policies to give young people age-appropriate experiences, and parents robust controls." New York's lawsuit echoes similar allegations made against Meta, Snap, TikTok and Alphabet in litigation filed in 2022 in the Northern District of California. Meanwhile, a coalition of over 40 attorneys general filed a joint federal lawsuit against Meta alleging that its products are addictive and harm mental health.
Persons: Eric Adams, Adams, we've, Meta, it's, Snapchat, Mark Zuckerberg, Shou Zi Chew, Evan Spiegel Organizations: York City, Facebook, YouTube, Google, Meta, Northern District of, Social Locations: York, TikTok, U.S, New York, Los Angeles, California, Northern District, Northern District of California
President Joe Biden's reelection campaign launched an official TikTok account Sunday evening. The account is noteworthy because TikTok is currently banned on most U.S. government-issued devices. The TikTok account, with the handle "@bidenhq," debuted Sunday during Lunar New Year celebrations in China and Super Bowl 58 in the U.S. Biden campaign advisors told NBC News the TikTok account is part of an effort to meet voters where they are. The Biden White House has carried on a love-hate relationship with TikTok since Biden took office.
Persons: Joe Biden, John F, Joe Biden's, TikTok, Biden, Shou Zi Chew, Jeffrey Yass, ratcheted Organizations: Kennedy International Airport, Super, China, Harvard Business School, TikTok's, Susquehanna International Group, Billionaire, U.S, NBC, Pew Research, Biden White Locations: New York City, U.S, China
Revenue : $1.36 billion vs. $1.38 billion expected, according to LSEG. : $1.36 billion vs. $1.38 billion expected, according to LSEG. Global Daily Active Users : 414 million vs. 412 million expected, according to StreetAccount. : 414 million vs. 412 million expected, according to StreetAccount. Daily active users for the first quarter will be 420 million, Snap said, slightly topping analyst estimates of 419.3 million.
Persons: Evan Spiegel, Porte, Debra Aho Williamson, Mark Zuckerberg, Linda Yaccarino, Shou Zi Chew, Jason Citron, Pinterest Organizations: Inc, Viva Technology, Porte de, CNBC, Meta Locations: Paris, Israel
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the grilling tech CEOs got during a contentious Senate hearing, with one notable exception. The big storyTech on trialAnna Moneymaker/Getty ImagesTech CEOs testified in a Senate hearing that turned into the type of fiery debates found on their social-media platforms. Executives for Meta, TikTok, X, Snapchat, and Discord were grilled by US lawmakers during a contentious Senate hearing on online child sexual exploitation. The most shocking moment involved Meta CEO Mark Zuckerberg, BI's Lauren Steussy reports.
Persons: , we're, Anna Moneymaker, Aaron Mok, Camilo Fonseca, Mark Zuckerberg, BI's Lauren Steussy, GOP Sen, Josh Hawley, Zuckerberg, Shou Zi Chew, Republican Sen, Tom Cotton, Linda Yaccarino, Alex Wong, Chew, X's Yaccarino, BI's Katie Notopoulos, Yaccarino, Katie, It's, there's, Sen, Lindsey Graham, We've, Jerome Powell, Win McNamee, Troy Rohrbaugh, Jamie Dimon, it's, Jeff chiu, Alyssa Powell, Byron Allen, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Business, Service, Tech, Getty Images Tech, Meta, GOP, Republican, Chinese Communist Party, Pew, Big Tech, Federal Reserve, Paramount, Getty, Apple Locations: Washington, Washington ,, New York, London
Congress is set to grill leaders from Meta, X, TikTok, and other tech companies in a hearing Wednesday. The session will cover efforts to protect children from sexual exploitation online. This will be X CEO Linda Yaccarino's first time testifying before Congress. AdvertisementTech leaders are arriving in Washington, DC, voluntarily or not, to answer for their platforms' efforts to protect kids from sexual exploitation. Over the weekend, X announced plans to hire 100 full-time workers for a yet-to-be-opened content moderation hub in Austin aimed at addressing child sexual exploitation on its platform.
Persons: Linda Yaccarino's, , X —, Elon Musk, Axios, She'll, Mark Zuckerberg, Evan Spiegel, TikTok, Shou Zi Chew, Jason Citron, Meta, We're, X Organizations: Meta, Service, Tech, Elon, Wall, Journal, The New York Times, Times Locations: Washington , DC, Austin
(L-R) Shou Zi Chew, CEO of TikTok, Linda Yaccarino, CEO of X, and Mark Zuckerberg, CEO of Meta testify before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Tillis and other lawmakers accused the tech executives of failing to protect children from sexual exploitation on their respective social media platforms. Growing appetite for regulationTo be sure, both Republican and Democratic senators were united in their conviction that social media firms are failing the American public and directly harming young people. Still, it takes time for bills to get passed, and all of these social media firms are still getting slammed for child-safety related issues, which could keep the topic fresh in the minds of politicians. Watch: Meta CEO Mark Zuckerberg apologizes to parents at online child safety Senate hearing.
Persons: Shou Zi Chew, Linda Yaccarino, Mark Zuckerberg, Meta, Alex Wong, Sen, Thom Tillis, Tillis, Josh Hawley, Zuckerberg, Tom Cotton, Chew Organizations: Dirksen, Facebook, Republican, Democratic, Meta, New, Apple, Lawmakers, Chinese Communist Party Locations: Washington , DC, Cambridge, China
US lawmakers grilled CEOs from tech giants on their platform's online safety practices. Senators appeared to be bullish on whether the tech CEOs support their proposed laws. AdvertisementUS lawmakers grilled tech CEOs about their companies' online safety practices during this week's Senate Judiciary Committee hearing on online child sexual exploitation. During the hearing, which kicked off on Wednesday, US lawmakers were seen interrogating CEOs at tech giants like Meta, TikTok, and X on how they run their platforms and keep them safe. Advertisement"I hope you hear what is being offered to you and are prepared to step up and do better," Butler told the Meta CEO.
Persons: , Sen, Lindsey Graham, there's, Graham, X's Linda Yaccarino, Snapchat's Evan Spiegel, , Ted Cruz, Mark Zuckerberg, Zuckerberg, Cruz, – Zuckerberg, Shou Zi Chew, ByteDance, Chew, Cruz didn't, Tom Cotton, Richard Blumenthal, Blumenthal, California Sen, Laphonza Butler, Meta, Butler Organizations: Service, Meta, Chinese Communist Party Locations: China, Connecticut, California
Universal Music Group said it could not reach a deal with TikTok to license its music. The label says TikTok pays a "fraction of the rate" that other platforms do for licensing. The current contract between UMG and TikTok expires Wednesday, per the letter. 2", Ice Spice's "In Ha Mood," and Taylor Swift's "Cruel Summer" are a part of the label's catalog. "TikTok has been able to reach 'artist-first' agreements with every other label and publisher," TikTok told Business Insider.
Persons: UMG, TikTok, , Taylor Swift, Drake, Olivia Rodrigo, Beyonce, Doja, Taylor, Shou Zi, Chew Organizations: Universal Music Group, Service, UMG, Business Locations: UMG, TikTok, China
During Wednesday's tense congressional testimony over online safety for children, Sen. Tom Cotton repeatedly asked Singaporean TikTok CEO Shou Zi Chew if he's ever been a part of the Chinese Communist Party. An increasingly agitated Chew, who's no stranger to US politicians' prodding, tried repeatedly to shut down the line of questioning by telling the conservative senator that he's Singaporean. "Senator, I'm Singaporean, no," Chew responded. Chew was joined by four other social media companies' CEOs Wednesday for a combative hearing on protecting children online in the Senate Judiciary Committee. Zaveri put it this way:The rhetoric at times seemed to paint the Chinese people with a broad brush and conflated people of Chinese ancestry with the will of the CCP.
Persons: Sen, Tom Cotton, Shou Zi Chew, he's, Chew, Cotton, Jamie MacEwan, MacEwan, Paayal Zaveri, Zaveri, bungled Organizations: Chinese Communist Party, Business, Enders Analysis, Committee, Energy, Commerce, CCP Locations: China, Beijing
Mark Zuckerberg, Linda Yaccarino, Evan Spiegel and other leading social media executives face a grilling on Wednesday from lawmakers concerned about child exploitation and safety on their services. Lawmakers from both sides of the aisle have blasted the companies for failing to properly address what some have called a "plague of online child sexual exploitation" on social media apps. Wednesday's hearing is focused specifically on issues pertaining to child exploitation and the prevalence of child sexual abuse material on social media. The social media executives are expected to detail their efforts combating child exploitation on their platforms, which include working with law enforcement and tasks like proactively identifying potential predators. Watch: Early Meta platforms investor Brad Gerstner tackles big tech ahead of key earnings week
Persons: Mark Zuckerberg, Linda Yaccarino, Evan Spiegel, , Shou Zi Chew, Jason Citron, Sen, Dick Durbin, Lindsey Graham, S.C, Citron, Meta, Brad Gerstner Organizations: Meta, U.S, Senate, Intelligence, Capitol, Washington , D.C, TikTok, Spiegel, Google YouTube, Committee, Lawmakers, Electronic Frontier Foundation, American Civil Liberties Union Locations: Washington ,, Washington, . New
At the Senate hearing on child exploitation and social media, X CEO Linda Yaccarino wasn't grilled like her peers. Most of the focus was on Meta CEO Mark Zuckerberg and TikTok CEO Shou Zi Chew. Yaccarino said that less than 1% of X users in the US are under the age of 18. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . TikTok CEO Shou Zi Chew also was frequently put in the hot seat, but a big chunk of that was over the app's ties to China, not teen safety.
Persons: Linda Yaccarino, Mark Zuckerberg, Shou Zi Chew, Yaccarino, , Zuckerberg Organizations: Service Locations: China
The Justice Department and FBI identified the attacks and shut down aspects of the Volt Typhoon malware, Wray said. Microsoft in May warned that Volt Typhoon hackers had been active since 2021 and were targeting U.S. cyber infrastructure. The hacks have become increasingly sophisticated, Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, said at the hearing. She explained that Chinese hackers are able to "live within a computer's operating system" in a way that makes them difficult to identify. In July, Chinese hackers also compromised the email accounts of the U.S. ambassador to China and other officials.
Persons: Christopher Wray, Wray, they're, that's, Shou Zi Chew Organizations: FBI, Justice Department, Microsoft, Infrastructure Security Agency, Communist Party, NBC News, British Locations: China, U.S, London, Taiwan
TikTok Music has launched on Wednesday in Australia, Singapore and Mexico to a small group of users. A federal judge in Montana has blocked a law that would have resulted in a state-wide ban of TikTok starting on Jan. 1, 2024. Before the judge's preliminary ruling, Montana was set to become the first U.S. state to ban the popular video and social media app, which is owned by the China-based tech giant ByteDance. ByteDance sued Montana in May to "prevent the state of Montana from unlawfully banning TikTok," the company said at the time. The lawmakers were concerned that the Chinese Communist Party may be able to access the data of U.S. citizens, and have considered implementing a nation-wide ban on TikTok.
Persons: Donald Molloy, Greg Gianforte, Molloy, General, ByteDance, Shou Zi Chew, TikTok Organizations: Communist Party, Montana, State, Chinese Communist Party, Oracle Locations: Australia, Singapore, Mexico, Montana, TikTok, U.S, China, Texas
Asia’s tech giants lean toward desperate deals
  + stars: | 2023-11-30 | by ( Anshuman Daga | ) www.reuters.com   time to read: +3 min
TikTok CEO Shou Zi Chew arrives for a dinner, on the eve of the Paris Peace Forum at the Elysee Palace in Paris, France, November 9, 2023. TikTok CEO Shou Zi Chew was feted in Indonesia where it has 125 million monthly active users when he pledged in June to invest billions of dollars in the region. But the global giant failed to anticipate regulatory hurdles in its biggest market for online shopping. TikTok’s viral video app would provide Tokopedia with a powerful new growth avenue for its online shopping and payments business. Yet as tech companies from the People’s Republic to Indonesia pull out all the stops to lift growth amid waning investor support, desperate new alliances are bound to emerge.
Persons: Shou Zi Chew, Gonzalo Fuentes, TikTok, China’s, GoTo, Patrick Walujo, Indonesia’s GoTo, Una Galani, Thomas Shum Organizations: Paris Peace, REUTERS, Rights, Reuters, Companies, Google, Temasek, Bain &, Reuters Graphics Reuters Graphics, Tokopedia, HK, Global Digital, Djarum, Bloomberg, Thomson Locations: Paris, France, Rights SINGAPORE, Southeast Asia, Indonesia, Reuters Graphics Reuters Graphics Jakarta, Tokopedia, Lazada, Singapore, Indonesian, Thailand, People’s Republic, China
[1/2] U.S. Sen. Lindsey Graham (R-SC) arrives for a hearing with the U.S. Senate Judiciary Committee on President Joe Biden’s judicial nominees on Capitol Hill in Washington, U.S., January 25, 2023. REUTERS/Leah Millis Acquire Licensing RightsWASHINGTON, Nov 20 (Reuters) - The U.S. Senate Judiciary Committee said it will hold a Dec. 6 hearing on online child sexual exploitation and expects Meta (META.O) CEO Mark Zuckerberg and TikTok CEO Shou Zi Chew will agree to testify voluntarily. The committee also has issued subpoenas to the CEOs of Discord, Snap (SNAP.N), and X, formerly known as Twitter, to compel them to testify. "Big Tech’s failure to police itself at the expense of our kids cannot go unanswered,” said Durbin and Graham in a joint statement. Reporting by David Shepardson, Jasper Ward and Doina Chiacu; Editing by Caitlin Webber and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
Persons: Lindsey Graham, Joe Biden’s, Leah Millis, Mark Zuckerberg, Shou Zi Chew, Dick Durbin, Republican Lindsey Graham, , Durbin, Graham, X, David Shepardson, Jasper Ward, Doina, Caitlin Webber, Chizu Organizations: . Sen, U.S . Senate, Capitol, REUTERS, Rights, U.S, Senate, Committee, Republican, U.S . Marshals Service, Thomson Locations: Washington , U.S
WASHINGTON (AP) — A Senate committee has issued bipartisan subpoenas to the CEOs of Discord, Snap and X, demanding that the heads of the three companies testify at a December hearing on protecting children online. Senate Judiciary Committee Chairman Dick Durbin, D-Ill., and South Carolina Sen. Lindsey Graham, the top Republican on the panel, announced Monday that they had issued the subpoenas to Discord CEO Jason Citron, Snap CEO Evan Spiegel and Linda Yaccarino, the CEO of X, formerly known as Twitter, “after repeated refusals to appear” during weeks of negotiations. "Big Tech’s failure to police itself at the expense of our kids cannot go unanswered,” the two senators said in a statement. The committee said that “in a remarkable departure from typical practice," Discord and X refused to accept service of the subpoenas and the panel was forced to enlist the U.S. Durbin and Graham said the committee remains in discussions with both Meta and TikTok and expects their CEOs, Mark Zuckerberg and Shou Zi Chew, to testify voluntarily.
Persons: Dick Durbin, South Carolina Sen, Lindsey Graham, Jason Citron, Evan Spiegel, Linda Yaccarino, , X, Durbin, Graham, Mark Zuckerberg, Shou Zi Chew, Barbara Ortutay Organizations: WASHINGTON, , South, Republican, U.S . Marshals Service, Social, Meta, Facebook, Associated Press Locations: South Carolina, Washington, San Francisco
Lawmakers said Monday that they have issued subpoenas to the CEOs of X, Snap and Discord to compel the executives to testify on a hearing regarding online child sexual exploitation. Marshals Service to personally serve the subpoenas to Discord and X, which they characterized as "a remarkable departure from typical practice." Hearing from the CEOs of some of the world's largest social media companies will help inform the Committee's efforts to address the crisis of online child sexual exploitation." A Discord spokesperson said that, "Keeping our users safe, especially young people, is central to everything we do at Discord." "We have been actively engaging with the Committee on how we can best contribute to this important industry discussion," the Discord spokesperson said.
Persons: Linda Yaccarino, Vox, Dick Durbin, Lindsey Graham, Durbin, Graham, Wifredo Fernandez, Fernandez, Evan Spiegel, they've, Mark Zuckerberg, TikTok's Shou Zi Chew Organizations: The Ritz, Carlton, Lawmakers, U.S . Marshals Service, Big Tech, Twitter, CNBC, Committee, Meta, X Corp Locations: Laguna, Dana Point , California, Canada
CNN —Tech CEOs are once again being summoned to Congress to testify about their business practices — and this time, the US Marshals Service is getting involved. On Monday, the Senate Judiciary Committee said it had subpoenaed three top social media executives — X CEO Linda Yaccarino, Snap CEO Evan Spiegel and Discord CEO Jason Citron — for a Dec. 6 hearing on children’s online safety and content moderation. “At our February hearing on protecting children’s safety online, we promised Big Tech that they’d have their chance to explain their failures to protect kids. In a statement, X said it has been cooperating with the committee. “We have been working in good faith to participate in the Judiciary committee’s hearing on child protection online as safety is our top priority at X,” said Wifredo Fernandez, head of US & Canada government affairs at X.
Persons: , Linda Yaccarino, Evan Spiegel, Jason Citron —, Mark Zuckerberg, Shou Zi Chew, Yaccarino, Citron, , Dick Durbin, Lindsey Graham, X, , Wifredo Fernandez, ” Meta, didn’t Organizations: CNN — Tech, US Marshals Service, Committee, US, Big Tech, Republican, Locations: Sens, Canada
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsJAKARTA, Nov 13 (Reuters) - TikTok has been holding talks with Indonesian e-commerce companies about possible partnerships, an Indonesian minister said on Monday, a month after Southeast Asia's largest economy banned online shopping on social media platforms. "Some e-commerce companies in Indonesia have talked to TikTok," he said in an interview, citing what the companies' executives told him. It was a particular blow to TikTok, which was forced to close its e-commerce service TikTok Shop. A TikTok Indonesia spokesperson was not available to comment. Until it stopped operations, TikTok Shop was delivering about 3 million parcels a day in Indonesia, sources have said.
Persons: Dado Ruvic, Teten Masduki, TikTok, Tokopedia, Bukalapak, Blibli, Joko Widodo, Shou Zi Chew, Teten, Indonesia's, SEA's, Stanley Widianto, Ananda Teresia, Edwina Gibbs Organizations: REUTERS, Rights, Indonesian, GoTo's, TikTok, YouTube, Meta, Google, Temasek Holdings, Bain & Co, HK, Lazada, Thomson Locations: Rights JAKARTA, Indonesian, Indonesia, Southeast, Singapore
[1/2] A 3D printed Youtube and Tik Tok logo are seen placed on keyboard in this illustration taken, September 15, 2020. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Nov 9 (Reuters) - Alphabet's (GOOGL.O) YouTube and TikTok have been given a Nov. 30 deadline by the European Union to reply to an information request on how they protect children from illegal and harmful content, the European Commission said on Thursday. Google and TikTok did not immediately reply to a request for comment. The information request comes days after Breton told TikTok Chief Executive Officer Shou Zi Chew to spare no effort to counter disinformation on its platform, owned by China's ByteDance. "Based on the assessment of the replies, the Commission will assess next steps", the Commission said.
Persons: Dado Ruvic, Thierry Breton, Breton, Shou Zi Chew, China's ByteDance, Sundar Pichai, Tassilo Hummel, David Evans Organizations: REUTERS, Rights, YouTube, European Union, European Commission, Big Tech, Digital Services, Google, Reuters, Wednesday, TikTok, DSA, Thomson Locations: Rights BRUSSELS, Breton
And tensions between the countries heightened earlier this year when a Chinese surveillance balloon was spotted traveling over sensitive U.S. airspace. The U.S. military shot down the balloon off the Carolina coast after it traversed sensitive military sites across North America. With all of the tensions, the two nations have worked to smooth economic ties. Xi similarly met with Blinken in June when the secretary of state traveled to Beijing for talks with Wang. In January, she had her first face-to-face meeting with former Vice Premier Liu He in Zurich.
Persons: Janet Yellen, Joe Biden, Xi Jinping, Nicholas Szechenyi, , Biden, Shou Zi Chew, Wang Yi, Antony Blinken, Jake Sullivan, Xi, Wang, Yellen, Liu, , Colleen Long, Aamer Madhani Organizations: WASHINGTON, , Economic Cooperation, Center for Strategic, International Studies, APEC, Chinese Foreign, White, U.S, White House, Blinken, U.S . Treasury Department, China’s Ministry of Finance, Associated Press Locations: San Francisco, Asia, United States, China, U.S, Carolina, North America, Washington, Beijing, Zurich
TikTok's CEO and an X executive met with the European Commission's Věra Jourová on Tuesday. She said they both need to "step up" their efforts to counter hate speech. AdvertisementAdvertisementTikTok and X, formerly Twitter, need to "step up" their efforts countering hate speech, a European Commission vice president said. In posts on X, Jourová said the meetings were constructive but pointed out several areas of improvement, adding that X needs to do more to comply with the Digital Services Act. AdvertisementAdvertisementAs well as illegal hate speech, Jourová raised concerns about the platforms hosting pro-Hamas content in the wake of its attacks on Israel in October.
Persons: Jourová, , Věra Jourová, Shou Zi Chew, Nick Pickles, X's, X, Elon Musk, TikTok Organizations: Service, European Commission, Digital Services, EU, Hamas, Elon Locations: Israel, Gaza, EU, Brussels
Chinese technology giant ByteDance is offering to buy back stock options from employees at a higher price than earlier this year, in a bid to boost motivation and inject confidence among employees after a challenging year. RSUs or options are an instrument employees can purchase, which convert into actual shares if the company goes public or gets acquired. A ByteDance spokesperson confirmed the plan to CNBC and said the company aims to provide liquidity of its RSUs and options to motivate employees through buyback programs. ByteDance is not public. It is also a way for early employees who may have purchased stock options at a cheaper price to make some return on their investment.
Persons: Shou Zi Chew, ByteDance Organizations: Wednesday, CNBC, ByteDance, TikTok Locations: U.S
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