In the US, where some of TikTok’s most prominent content creators are based, it is now under scrutiny and might be banned, but the app could find a lifeline there.
Several US-based investors who already own a share in ByteDance, TikTok’s parent business, are considering acquiring the subsidiary company to obtain control of the platform. TikTok’s decision to pass over user data to Chinese authorities may now be less of a source of concern for governments and consumers alike.
Bytedance CEO Zhang Yiming has already stated that he is open to the notion of selling TikTok if it is what is ‘best for the future of the app.’ However, no timeline has been set. Sequoia Capital and General Atlantic are among the potential buyers of TikTok.
While TikTok’s largest international user base of 200 million people resides in India, it was recently suspended for the second time in a row. Even on government authorized devices in the United States, it has already been declared a ‘cybersecurity threat.’ Earlier this month, US Secretary of State Mike Pompeo announced that the administration is considering whether or not to prohibit it across the United States.
TikTok’s acquisition by a US company would likely result in its separation from its original parent company, although this might be beneficial for the platform as a whole. Axios claims that the business plans to add 10,000 more workers in engineering, sales, content moderation, and customer support throughout Tennessee, Florida, Texas, New York, and California on top of its current 1,400 US employees.
New York Times reported earlier this month that TikTok hired a staff of over 35 lobbyists to establish a relationship with the present administration. At a time when the relationship between China and US is quite shaky, TikTok needs all the aid it can get — and a jolt from US investors might be precisely what it needs.