BEIJING: As more signs emerge that TikTok, the video-sharing app developed by ByteDance, will pick Europe as the next battleground for its global expansion following frustration in the US and Indian markets, analysts said the software will survive and thrive in the region, despite weakening momentum.
Media reports have said in recent weeks that TikTok will move its global headquarters to London, but No.10 Downing Street has not made its attitude clear and TikTok hasn’t released any official statement on the issue.
TikTok has been sitting on the plan to relocate to London for weeks, pending a positive response from the UK government, the South China Morning Post reported Monday, and, obviously, British Prime Minister Boris Johnson is fac-ing a split among his ministers over the investment plan of ByteDance.
Despite Johnson’s concerns that the headquarters plan would put the UK on a collision course with Washington, UK ministers have expressed a welcoming attitude toward the Chinese start-up, saying that it would be “absurd” to say no to such a large company aspiring to invest in UK, the Sun reported.
Wang Chao, founder of the Wenyuan Institute for Politics and Economics, a Beijing-based think tank, told the Global Times Tuesday that the UK govern-ment has strong concerns about the US’ possible long-arm jurisdiction on TikTok’s global business operatons.
“TikTok is still an emerging technology company in the UK and its penetration rate in the UK and EU market is not as high as some may think,” said Wang, adding that the Chinese company could bring tangible benefits to Europe in terms of investment and employment, which outweighs some officials’ para-noid thinking.
According to market consultancy firm Take Some Risk Inc, TikTok had 5.4 mil-lion monthly active users in the UK as of June 15, 4.4 million in France and 5.5 million in Germany.
– The Daily Mail-Global Times News exchange item
