ByteDance Says not Aware of $5 Billion EducationFund in TikTok Deal
This morning, ByteDance responds to rumors in TikTok deal via its WeChat official account. The company points out that it will remain in control of a hived-off TikTok Global business. Moreover, the company never knew the set-up of s $5 billion education fund in the U.S. before hearing in the news.
According to Bloomberg, U.S. President Donald Trump said on September 19th that he had approved a deal, which included a $5 billion education fund, to allow TikTok to continue to operate in the United States.
“We are committed to investing in the education field, and plans to work with partners and global shareholders to launch online classroom projects based on AI and video technology for students worldwide,” ByteDance said.
ByteDance has started to tap into the education market since 2017. Its business has currently covered several tracks, including language learning, early childhood education, K-12, higher education, etc.
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