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TikTok’s CEO Is Set to Enter a Washington Fight He Can’t Win

23Mar

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Technology

TikTok’s CEO Is Set to Enter a Washington Fight He Can’t Win

[ad_1] TikTok's ownership by a Chinese company, and the national security risk that could pose to the viral video app's users, have drawn most of the attention ahead of the CEO's testimony to Congress. But Chief Executive Officer Shou Chew is prepared for a variety of questions, including about kids' mental health, from a House committee Thursday.The mobile app's 150 million users in the US and the strength of its content-recommendation engine mean any infraction is viewed as a potential societal threat. Lawmakers have spent the better part of this year warning about the risks posed by a platform intended for short, often silly videos. In Thursday's US House Energy and Commerce Committee hearing, they'll have one person at whom they can direct those fears. Here's what you need to know....

TikTok Considers Splitting From ByteDance If Deal With US Fails

[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 ...

TikTok Faces Hefty Privacy Fine in UK Children’s Data Probe

[ad_1] TikTok faces a possible fine of $29 mn after the UK’s privacy watchdog found the it may have breached data protection rules. ByteDance Ltd.'s TikTok faces a possible fine of 27 million pounds ($28.9 million) after the UK's privacy watchdog found the company may have breached data protection rules by failing to sufficiently protect children's data. The Information Commissioner's Office said Monday it issued TikTok with a notice of intent, laying out its plans for a potential fine and its findings. The authority's provisional findings include that TikTok probably failed to get the necessary parental consent from minors that use its platform, and processed some data without legal grounds. “We will carefully consider ...