TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data potentially being accessed by the Chinese government. Just this past month, the app experienced a temporary outage in the U.S. that left millions of users in suspense before […] © 2024 TechCrunch. All rights reserved. For personal use only.
TikTok's uncertain future in the U.S. stems from concerns over user data privacy and potential access by the Chinese government. The app faced a temporary outage in the U.S. recently, though it was quickly restored. TikTok's parent company, ByteDance, has been involved in legal battles with the U.S. government, including an executive order by former President Trump to ban transactions with ByteDance, which was later blocked by a federal court. The U.S. Congress also passed legislation targeting TikTok. Meanwhile, several investor groups and companies, including Oracle, Walmart, Microsoft, and The People’s Bid (led by Frank McCourt), are reportedly interested in acquiring TikTok. The app's valuation could reach up to $60 billion, according to estimates.
