- Index hide2 Several governments, including the United States, have taken steps to restrict or ban the use of TikTok among government officials and military personnel.
TikTok could be worth anywhere from $40 billion to $50 billion.
Several governments, including the United States, have taken steps to restrict or ban the use of TikTok among government officials and military personnel.
ByteDance was valued at $220 billion in a recent transaction.
TikTokproperty of bytedance, is in the midst of a worldwide controversy. Many governments, including the United States, have raised concerns about the privacy and security of user data. As tensions mount, TikTok is considering parting ways with ByteDance to avoid being banned.
By order of the White House, in the United States, the prohibition of TikTok for government employees. Something that was seen coming since former President Donald Trump was in the White House, since he expressed his concerns about the security of TikTok, he even issued an executive order in 2020 that sought to prohibit the use of the application by officials and government contractors, something that has become a given.
On February 23, it was learned that the executive body of the European Union, the European Commission, decided to ban the app among its employees and officials to “preserve the institution”.
The new determination also meant that employees of the European Commission cannot use TikTok on their personal phones.
According to the EC, officials and stable workers must “eliminate the application as soon as possible”, before March 15, for “cybersecurity risks”.
In countries like Australia and Japan, warnings have been issued to their citizens about the security risks of the application.
It is evident that TikTok is in total despair, because even though it is one of the most used applications, it runs the risk of being blocked in several countries, including the United States and some European countries, and it is notable that it is struggling to avoid this, since recently introduced the “Project Clover“As a strategy to protect the data of Europeans in depth and thus prevent more countries from continuing to ban their platform, since recently this has also been prohibited in Denmarkclaiming that it is for security reasons.
Similarly, TikTok has launched an initiative called projects Texaswith which he promises to protect the data of North American accounts.
TikTok could separate from ByteDance to avoid being banned in the United States
TikTok has come under scrutiny and concern from governments around the world and in a drastic move, has even considered separating from ByteDance, its Chinese parent company, in order to mitigate the espionage accusations of which it has been accused.
According to a report from BloombergyesIf the blockade crisis in the United States continues, TikTok will have practically two options, it may be that it is bought by another company, or that it goes public through a public sale offer (IPO). It is estimated that TikTok could be worth between 40 billion dollars to 50 billion dollars. It should be noted that this option would be taken as a last resort if it fails in negotiations with the White House and it is evident that this does not guarantee that it will have successful, even then, the Chinese government would have to agree to such a transaction.
This news has yet to be fully officially confirmed, as this has been reported by people familiar with the matter, who asked not to be identified when discussing non-public information.
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