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TikTok Spin-off, Sequoia & General Atlantic Plan to Acquire (Trump Banned the APP in US 1 Aug 2020)
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TikTok Spin-off, Sequoia & General Atlantic Plan to Acquire (Trump Banned the APP in US 1 Aug 2020)
preview: executive summary
ByteDance, the parent company of short-video app TikTok, is looking at strategic alternatives, including a possible spin-off of Tiktok as a US company.
1 Aug 2020, The app, which allows users to film and share short videos of themselves along to accompanying music, is owned by the Chinese company ByteDance. The relationship has caused the Trump administration, as well as lawmakers across both aisles, to accuse the app of being a security threat.
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