TikTok, owned by ByteDance, is grappling with significant scrutiny in the U.S. primarily over user data security concerns tied to the Chinese government. A recent outage heightened tensions for millions of users, amidst legal battles against an enforced sale mandated by the Biden administration. Following a history of attempts to ban the app initiated under Trump, including executive orders and congressional actions, TikTok remains resolute in its defense, asserting that its First Amendment rights are violated while advocating for its operational legitimacy in the U.S. The app’s valuation is speculated to exceed $60 billion while the future hangs in the balance.
TikTok's uncertain future arises from ongoing U.S. government scrutiny over data security concerns, while valuable investor interest hints at a potential sale or ban.
The app's tumultuous journey began in August 2020, with an executive order from Trump aiming to force a sale of TikTok's U.S. operations.
With President Biden's recent signing of a restriction requiring a potential ban or sale, TikTok continues to challenge the U.S. government legally.
Despite the controversies and legal challenges, TikTok’s U.S. operations could be valued at over $60 billion, according to research estimates.
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