23.07 2020 09:26h

TikTok might be sold to US investors

The majority of TikTok's most popular content creators are based in the US
TikTok, Tiktok news
via Unsplash

Chinese short video platform TikTok is currently facing close scrutiny and risks being booted out of the US — which is home to some of its most popular content creators — but the app may find a lifeline there.

The Information reports that a number of US-based investors who already have a stake in TikTok‘s parent company, ByteDance, are considering purchasing the subsidiary company to gain control of the platform. The move could ease some concerns among governments and users about TikTok handing user data over to Chinese authorities.

There isn’t yet a timeline in place for this, but Bytedance founder and CEO Zhang Yiming has previously said he would be open to the idea of selling TikTok if that’s what’s ‘best for the future of the app.’

TikTok was recently banned in India, where its largest overseas user base of 200 million people resides. And stateside, it’s already been banned on all federally-issued devices as it’s been viewed as a ‘cybersecurity threat.’ US Secretary of State Mike Pompeo said earlier this month that the government is looking into whether it needs to be banned across the country.

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