Investors in TikTok's parent company, ByteDance, are interested in an online video sharing service that has become hugely popular in recent years, which may be threatened by the United States, which provides TikTok's largest user base by country, for national security reasons. Chinese-owned service operation in the country. According to newspaper reports, TikTok is taxed at about 50 times $ 50 billion in projected sales in 2020, making it significantly more valuable than rival Snapchat.
The service is one of the biggest Internet success stories of the last decade in almost every respect. ByteDance acquired musica.ly for $ 1 billion in 2017, and after the acquisition, riding on the success of the platform, it began to grow at lightning speed. In 2018, TikTok was already available in 75 countries and in 75 languages, and the number of active users now exceeds 800 million worldwide. The service is not present in China and Hong Kong, more precisely in a separate form, called Douying, no less popular with young people. U.S. Secretary of State Mike Pompeo stated in an earlier interview with Fox that U.S. lawmakers are concerned that owner ByteDance must comply with Chinese legal requirements that virtually oblige the company to provide all available user data immediately upon request from the Chinese government. authorities. Huawei Technologies and several Chinese technology manufacturers have since been banned for similar reasons last May. a California businessman, Kevin Mayer, who previously held a senior executive position at Walt Disney, among others. The company has also repeatedly stated in recent weeks that its servers storing U.S. users' data are located in the United States and Singapore as a result of the U.S. threat.
Anonymity sources suggest that if the sale of TikTok's global operation fails, a scenario could be envisaged. according to, only the U.S. interest will be sold, but how the outsourced company will connect to the global service is not yet clear.
Gellert is Technology Editor at Counting News Media and contributor at other major tech publications. Her interests includes testing new gadgets and reading.