# TikTok owner ByteDance to invest billions in Singapore over three years (HT Tech) > ByteDance decided last year to locate its regional headquarters in Singapore, which in recent years has ramped up efforts to attract tech firms and investors. # TikTok owner ByteDance to invest billions in Singapore over three years ## ByteDance decided last year to locate its regional headquarters in Singapore, which in recent years has ramped up efforts to attract tech firms and investors. Sept 11 2020, 14:33 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![The logo of Bytedance, the China-based company which owns the short video app TikTok, or Douyin, is seen at its office in Beijing, China July 7, 2020.](https://images.hindustantimes.com/tech/img/2020/09/11/1600x900/2020-09-11T053058Z_2_LYNXMPEG8A09M_RTROPTP_3_USA-TIKTOK-CYBERSECURITY_1599814880860_1599814896601.JPG) The logo of Bytedance, the China-based company which owns the short video app TikTok, or Douyin, is seen at its office in Beijing, China July 7, 2020. (REUTERS) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By REUTERS TikTok owner ByteDance plans to invest billions of dollars and recruit hundreds of employees in Singapore after opting to base its Southeast Asia regional headquarters there, a person familiar with the matter said. ByteDance has also stepped up the purchase of servers in global trade and transport hub Singapore to back up U.S. data as a contingency, the source told Reuters on Friday, adding that it began the three-year plan in 2019. The Chinese firm is being forced by President Donald Trump to sell TikTok's U.S. assets to avoid a ban in United States. Also read click here. The Trump administration has cited a potential national security risk due to the vast amount of private data which the short video app is compiling on U.S. consumers. TikTok has said that it stores all U.S. user data in the United States, with back-up in Singapore, which analysts say is likely to become more attractive for firms seeking a neutral location amid rising tensions between Washington and Beijing. ByteDance decided last year to locate its regional headquarters in Singapore, which in recent years has ramped up efforts to attract tech firms and investors, the source said. Bloomberg earlier reported https://bloom.bg/2RfslmZ that ByteDance was planning to make the city-state its beachhead for the rest of Asia as part of its global expansion plans and set up a data centre there. However, the source told Reuters that ByteDance has yet to make a decision about such a move, while another source said TikTok had this year moved some engineers there from China. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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