TikTok owner Bytedance moving to bigger Singapore office at One Raffles Quay amid expansion plan
SINGAPORE (BLOOMBERG) - ByteDance, the Chinese owner of video app TikTok, is moving to a bigger office in Singapore's financial district, paving the way for it to make the city-state its beachhead for the rest of Asia. It has signed an agreement to lease three floors measuring over 60,000 square feet (5,574 square metres) at One Raffles Quay, according to people familiar with the plan. Bytedance's office expansion will help the world's most richly valued start-up to anchor itself in Singapore, where it plans to invest several billion dollars. The move will support Bytedance's hiring spree, as it plans to add hundreds of jobs over the next three years in the city-state, people familiar have said. Controlled by billionaire Zhang Yiming, the firm is pushing its social media service across Asia following setbacks in India, the UK and the US, where Chinese tech companies are facing growing hostility amid security concerns. The new office is being refurbished and it's likely that employees will move in by the first quarter of next year and will be informed about it later this month or in November, the people said. A representative for Bytedance declined to comment. The Chinese tech firm'...
