Zhang Yiming, founder of ByteDance, has said that the company is “moving quickly” to resolve issues in the US and India in a letter he sent on Thursday morning soon after Kevin Mayer announced his resignation as the CEO of TikTok.
In the letter, the contents of which have been reviewed by ET, Yiming said that though he cannot share more details on the resolution at this point, the “solution” will be in the interest of users, creators and partners.”
Yiming also thanked Mayer for his “efforts towards a resolution”. Mayer’s exit, just months after he joined the popular short video app from Disney, could signal that the company has perhaps reached a deal which could be announced soon.
Earlier on Thursday, Mayer announced his exit from TikTok in a letter to employees.
“In recent weeks, as the political environment has sharply changed, I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for. Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company,” Mayer said in a letter to employees.
Yiming also thanked Mayer for joining at a time when the company was entering its “most challenging moment in India and the US in particular.”
“It is never easy to come into a leadership position into the company moving as quickly as we are and the circumstances following his arrival made it all the more complex.”
Microsoft had said in its statement that it will close conversations on the acquisition consideration of TikTok in the US and three other markets by September 15. The executive order signed by US President Donald Trump had also given a deadline of September 20 for banning any commercial transaction with TikTok in the US.
TikTok has been banned in India for close to two months now with little clarity about its future in the country. ET had reported earlier that ByteDance has approached firms like Reliance Jio for a specific sale of TikTok in India.
It is however unclear if the solution that Yiming is referring to means that one entity will acquire both Indian and US operations or it will be two separate entities.
In his letter, Mayer said that “I understand that the role that I signed up for — including running TikTok globally — will look very different as a result of the US administration’s action to push for a sell off of the US business,” he added.