ByteDance, TikTok application owner announced that the company prefer to close application rather than sell it if the Chinese company exhausts all legal options to fight legislation aimed at banning the platform from application stores in the United States, according to what was reported. Reuters. Sources close to the parent company said that the algorithms that TikTok relies on in its operations are considered fundamental to ByteDance’s overall operations, which makes selling the application with algorithms highly unlikely. They said that TikTok represents a small share of ByteDance’s total revenues and daily active users, so the company that owns it would prefer to close the application in the United States in the event of a worst-case scenario rather than sell it to an American buyer. The sources, who requested anonymity because they are not authorized to speak to the media, said that the closure will have a limited impact on […]