(Reuters) – 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.
The Beijing-based company is purchasing more cloud-computing servers in Singapore to backup U.S. data for contingency, the source added.
ByteDance declined to comment when contacted by Reuters.
(Reporting by Aishwarya Nair in Bengaluru and Yingzhi Yang in Beijing, Editing by Sherry Jacob-Phillips)
