The fate of TikTok hangs in the balance in the United States. A bill attempts to ban the Chinese app on US soil. Already banned from government phones, soon it is all citizens who could be forced to remove the social network.
Accused of espionage and mishandling of personal data, TikTok begins to worry about a probable exile in the United States. This is why the company is considering a possible separation from its parent company ByteDance, reports the US agency Bloomberg.
Valued between 40 and 50 billion dollars
By leaving the Chinese group, the app could allay fears around his nationality. This could materialize through a sale or an initial public offering. Bloomberg specifies that such an operation could be subject to prior approval from the Chinese government.
The US agency estimates that a valuation of TikTok’s US activities could reach 40 to 50 billion dollars, without specifying whether the possible split would affect this single branch or the entire company.
However, a spokesperson for the app said that “neither the ban on TikTok nor the separation of TikTok and ByteDance address national security concerns over data transfers.” According to him, these fears could disappear with the implementation of the Texas project, which aims to neutralize the risks of data theft.
A full review
But the Texas project was heavily criticized by a former employee of the Chinese platform. Heard by the US Congress and interviewed by the Washington Post, the former risk management officer indicated that a complete overhaul of the app would be the only solution to make TikTok waterproof and prevent data leaks.
Already in September 2020, Donald Trump led a first battle to ban TikTok on US soil. The former president of the United States then insisted on the need for TikTok to be 100% American owned in order to authorize its activities on its soil. Ultimately, it was Joe Biden’s election as head of the country that allowed the app to escape a forced sale.
Source: BFM TV
