Trump’s call to ban to Tik Tok from the USA might force its owners to sell their shares

China's ByteDance might sell TikTok to software giant Microsoft as Trump takes a call to ban the app

By Sagar Thamminedi, August 01, 2020 16:58 IST

Bytedance is Beijing-based internet technology. ByteDance in September 2016 released Douyin app in china. Later in 2017, TikTok got released for Android & IOS platforms outside of China; however, Tik Tok captured the worldwide market including the United States, after merging with in 2018. Though TikTok and Douyin are similar, they run on separate servers and also have different content that complies with Chinese censorship laws.
In recent weeks, US Secretary of State Mike Pompeo accused TikTok of collecting personal data of Americans. The senator also stated that numerous reports have proved that TikTok disclosed sensitive information about Americans to the PRC and engaged in censorship under the Chinese government's influence.
Following these allegations, President Trump said he will bar the TikTok App from the USA, as the app could be a tool for Chinese intelligence. Trump raised concerns that such an amount of information in china’s hand could result in devastating effects.
The reports are rife that Trump's decision came right after the review submitted by the Committee on Foreign Investment (CFIUS).
Kevin Mayer, CEO of Tik Tok took to social media - 'We are not political, we do not accept political advertising and have no agenda -- our only objective is to remain a vibrant, dynamic platform for everyone to enjoy,' he said.

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