TIKTOK is a short-form video platform that has blown up on social media since its debut in 2017.
People are curious about who owns the platform and whether a potential ban will occur.
Who owns TikTok?
TikTok is owned entirely by a private Chinese tech company called ByteDance.
ByteDance is headquartered in Beijing and was founded in 2012 by its former CEO, Zhang Yiming.
ByteDance created TikTok in 2017 after seeing great success with their Chinese short video app Douyin.
The company decided to go global in 2018 when it merged TikTok with the social app called Musical.ly.
TikTok is available today in more than 150 countries.
Who is TikTok’s new CEO?
TikTok’s latest CEO, Shou Zi Chew, has been with the company since early 2021.
He is Singaporean and still resides there with his wife and two children.
He is an alumnus of University College London, where he studied economics, and of Harvard, where he got his MBA.
Chew is currently appearing before Congress to attempt to dissuade the United States government away from its notions to ban the app for potentially sharing sensitive data with the Chinese government.
According to The New York Times: “The Singaporean-born executive will serve as a deflector for TikTok, taking the heat for the app while touting its popularity and how it serves as a platform for creators and small businesses.
“Mr. Chew has repeatedly denied TikTok’s links to China.”
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Will the United States ban TikTok?
The United States may decide to ban TikTok if it doesn’t agree to separate from its parent company, ByteDance.
On March 23, 2023, Chew testified before the House Energy and Commerce Committee to talk about the company’s privacy practices, the app’s impact on children, and its relationship with China’s government.
The night before his testimony, influencers, and small business owners gathered at the Capitol, protesting the potential ban.
Two days before, on March 21, Chew posted a minute-long video with the Capitol building as his background to the app.
He said he planned to tell Congress everything he and the app are doing to “protect Americans using the app.”