Bytedance mulls selling majority stake in short-video app TikTok

TikTok parent Bytedance is reportedly considering to reduce its stake in the short-video app. According to reports in The New York Times and The Information, the Chinese firm is planning to sell a majority stake to the existing investors, and will retain minority stake in the platform. The move is an effort to quell the possibility of a ban by the United States (US) government.