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Who is TikTok Owned By?
If you’re wondering, “Who is TikTok owned by?” then you’ve come to the right place. Shou Zi Chew is the CFO and CEO of TikTok. He is also the Chief Financial Officer of another company, ByteDance. As CEO, Shou is responsible for the company’s financial success. But who is he really? And what does this mean for the company?
ByteDance
ByteDance owns several short video apps, including TikTok, Helo, and Douyin, the Chinese counterpart to the popular app. The company also owns Toutiao, which is a Chinese short form video app with around 600 million daily active users. To see also : What is the Best Time to Post on TikTok?. ByteDance was backed by Sequoia Capital and General Atlantic, and last year was valued at $180 billion.
However, there is some ambiguity surrounding the company’s ownership structure. First of all, TikTok isn’t publicly traded. Its owners are private and don’t have a stock code. Therefore, they do not allow retail investors to invest in the company. Additionally, ByteDance owns only a small portion of the company. It is unclear how many shares ByteDance owns in TikTok, and whether they’ll ever offer the stock to the public.
Microsoft had proposed buying TikTok in August 2020. However, talks broke down by September. Fortunately, Trump’s divestment campaign did not affect the deal. In the end, no one bought the company. TikTok’s algorithm is opaque, which is the biggest national security risk for the company. In addition, users in China are not able to use TikTok, so they rely on a similar app called Douyin. This means that ByteDance’s algorithm can access sensitive information on TikTok.
Charli D’Amelio
Known for posting videos of herself dancing, making up tutorials, and participating in TikTok challenges, Charli D’Amelio has a net worth of $8 million, according to Forbes. She has a sister, Dixie, who is also a successful social media star. Read also : How to See Private TikTok Videos Without Following. The two have been making millions of dollars with TikTok, and have recently started a clothing line.
Currently, the most popular user on the TikTok app is Charli D’Amelio, who became an overnight sensation with her personality and dancing skills. In May of 2019, Charli D’Amelio posted her first TikTok video. She left her small hometown of Norwalk, Connecticut for sunny Los Angeles, and she has now accumulated eighty-two million followers.
The TikTok app has surpassed two billion downloads. It has also attracted the attention of celebrities, including Lady Gaga. D’Amelio is the undisputed king of TikTok. She creates all types of videos, but her specialty is dancing. She has been called “the best dancer in the world.”
Oracle
A new report claims that Oracle has entered the race to buy popular Chinese short video app TikTok. The company has been in preliminary talks with the Chinese owners, and is now seriously considering purchasing its US operations. A group of US investors has also joined the talks. On the same subject : How Much Money Do I Make on TikTok?. The company’s stake will now fall to around 80 percent, and it will be a wholly owned subsidiary of Walmart. Oracle did not comment on this news.
The new deal comes amid a number of questions, including whether TikTok is actually owned by a Chinese company. TikTok is owned by Chinese company ByteDance. While it is unclear if it is a new app, the company does not plan on deleting American users’ data once it reaches the US servers. However, it will continue to store backups of American user data in the event that TikTok decides to pivot its services to Oracle’s cloud servers.
Walmart
There’s a lot of talk about how Walmart owns TikTok and its Chinese sibling company, Douyin. While Walmart has no immediate plans to sell the company, it’s possible it’s looking to gain a foothold in the United States. According to a Wall Street Journal report, Walmart was interested in purchasing TikTok’s U.S. operations in order to emulate its success in China. If Walmart decides to invest in TikTok, it will have to replicate that growth and evangelize its young audience.
The Chinese company had a deadline to sell its US business by 15 September 2020. It turned down Microsoft and went on to strike a deal with Walmart and Oracle. The deal, however, was delayed by months due to legal challenges. In the meantime, TikTok is still free to make viral videos and confuse non-TikTok users. But Walmart is putting their own money behind the deal, and it will also be a big help in ensuring the company’s future in the US.
