TikTok IPO no longer music to investors' ears

Deflating startup bubble and US scrutiny spell trouble for world's top unicorn

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A report that ByteDance could go public in Hong Kong next spring has failed to excite Chinese market players. © Getty Images

NAOKI MATSUDA, Nikkei staff writer

SHANGHAI -- ByteDance, the Chinese company behind wildly popular TikTok short-video platform and a venture capital darling, is facing mounting questions over its future as it weighs a jump into public markets.

Seen not long ago as another potential breakout success from China's tech scene, ByteDance now finds itself contending with growing political pressure from Washington over security concerns as well as less-than-hospitable market sentiment.

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