ByteDance to invest billions, and recruit hundreds in Singapore after US ban

ByteDance, the owner of popular short-video app TikTok, is planning to invest billions of dollars and recruit hundreds of employees in Singapore over the next three years, a person familiar with the matter told Reuters on Friday.

The company’s plans about setting up a new data centre in the city-state is untrue, the source said, adding that the Beijing-based firm had stepped up the purchase of cloud-computing servers in Singapore to backup US data for contingency.

Separately, a company source said TikTok had moved some engineers to Singapore from China, starting this year.

Bloomberg earlier reported that ByteDance was planning to make Singapore its beachhead for the rest of Asia as part of its global expansion. The news was first reported by Bloomberg earlier on Friday.

The investment comes as ByteDance is being forced to sell TikTok’s US assets under pressure from the Trump administration, which has cited potential national security risk due to the vast amount of private data the app is compiling on US consumers.

According to a Bloomberg report on Thursday, the company is likely to miss the Sept. 20 deadline imposed by US President Donald Trump for the sale of assets, as new Chinese regulations have complicated deal talks with bidders Microsoft Corp and Oracle Corp.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.