ByteDance could still keep 50% profit after selling majority share in TikTok US deal

ByteDance, the Chinese parent of video sharing app TikTok, could keep about 50 per cent of profits even after selling majority share of the platform's United States operations to American investors, according to a Bloomberg report citing sources.Under the new deal spearheaded by US President Donald Trump, ByteDance is set to retain licensing fee on all revenue generated from making its algorithm available to the US entity, and a share of the profit in proportion to its equity stake, sources told the publica ...