TikTok owner targets IPO in 2022 despite Beijing’s major crackdown on Chinese Big Tech

ByteDance, the Chinese owner of short video platform TikTok, is reportedly planning to go public as early as next year, after addressing concerns over data security raised by China’s state regulators. The Chinese multinational is expected to list in Hong Kong either in the fourth quarter of the current year or in early 2022. In December, the company managed to raise nearly $5 billion at a $180-billion valuation. After shelving plans for the overseas listing this year, the group had to provide more details to China’s regulatory authorities on how it collects, stores and uses the personal data of consumers. Al

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