tiktok bytedance – pressnews

[ad_1] TikTok's leadership is discussing the possibility of separating from ByteDance Ltd., its Chinese parent company, to help address concerns about national security risks.A divestiture, which could result in a sale or initial public offering, is considered a last resort, to be pursued only if the company's existing proposal with national security officials doesn't get approved, according to people familiar with the matter, who asked not to be identified discussing non-public information. Even then, the Chinese government would have to agree to such a transaction, the people said. TikTok's US business could be valued at $40 billion to $50 billion based on social media multiples and other factors, according to Bloomberg Intelligence analysts Mandeep Singh and Damian Reimertz. TikTok ...

[ad_1] US Senate Intelligence Committee Chairman Mark Warner plans to introduce a bill this week to allow the US to systematically ban Chinese technology, including services like TikTok, he told Fox News on Sunday. Calling it “a broad bipartisan bill” that will be co-sponsored by Republican John Thune of South Dakota, Warner said the law will give the US the power to ban or prohibit foreign technology where necessary. When asked if that would implicate ByteDance Ltd.'s TikTok, he confirmed and elaborated on his reasoning. “You have 100 million Americans on TikTok for 90 minutes every day,” the Democrat from Virginia said. “They are taking data from Americans, not keeping it safe. But what worries me more with TikTok is that this can be a propaganda tool.” TikTok's commercial suc...

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