Tiktok owner Bytedance is planning to invest several billion dollars in Singapore over the next three years and make the city-state its hub for the rest of Asia, Bloomberg reported Friday.
The investment plans, part of Bytedance’s global expansion, will add hundreds of jobs in the country, according to the report.
The rumor comes ahead of the US government’s September 20 deadline for Bytedance to divest itself of TikTok in order to keep operating in America.
Bytedance in Singapore:
- Bytedance already has 400 employees working on technology, sales, and marketing in the city-state
- More than 200 job openings listed in the country
- Starting this year, TikTok has moved some engineers to Singapore from China, reports Reuters today
- It has applied for a license to operate a digital bank in Singapore
(Modified from Technode, written by Wei Sheng.)