The Daily Times Newspaper

Investors Aim for the Acquisition of TikTok for 50 Billion

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The popular but controversial app TikTok could be worth $ 50 billion as a separate company. That is what some investors in the Chinese parent company ByteDance believe.

 

They want to take over the platform for short music videos from the current owner, and insurers report agency Reuters reports.

TikTok is under attack in the United States, among others, because there are concerns about personal data that end up with the Chinese owner via the app. U.S. President Donald Trump’s campaign team recently posted an ad on Facebook hinting at a national ban from the app.

TikTok itself vehemently denies sharing personal data with the Chinese government.

According to insiders, ByteDance van has already received proposals from the American venture capital companies Sequoia and General Atlantic for the purchase of TikTok.

The move to these American owners, who already have an interest in the unlisted ByteDance, may also address privacy concerns surrounding TikTok.

The $ 50 billion price tag shows that investors have high expectations for TikTok. Compared to the expected annual turnover in 2020, it is a much more expensive company than the comparable social media company Snap, whose value is $ 33 billion.

TikTok isn’t just under a magnifying glass in the US for privacy concerns. Supervisors in the European Union recently opened an investigation into the app, which may not adequately protect the privacy of children and young people in particular.

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