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Can TikTok's owner afford to lose its killer app?
Sell or be banned - TikTok's US operations, by some estimates, could fetch up to $100bn.
TikTok's Singaporean CEO Shou Zi Chew was grilled by Congress twice in less than a year, and downplayed the app's connection - and his personal links - to Chinese authorities. The newer version gives ByteDance nine months to decide TikTok's fate - if the Senate passes it and if the chances for a sale look promising, President Joe Biden can further extend the deadline by another 90 days. However, under the current political risks and lack of liquidity, the valuation would take a big hit if a transaction does happen," said Li Jianggan, who runs Singapore-based venture capital firm Momentum Works.
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