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Here’s what’s happening right now with the US TikTok deal
TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data As TikTok's future remains uncertain, a number of prominent moguls and companies are competing for the opportunity to purchase the app.
A number of investors are competing for the opportunity to purchase the app, and if a deal were to go through, the platform’s U.S. business could have its valuation soar to upward of$60 billion, as estimated by CFRA Research’s senior vice president, Angelo Zino. Image Credits: Mandel Ngan (opens in a new window)/ Getty ImagesTo fully understand this high-stakes drama, we’ll first revisit the timeline of TikTok’s tumultuous relationship with the U.S. government, which resulted in various legal battles and negotiations. Supporters include Reddit co-founder Alexis Ohanian, TV personality and investor Kevin O’Leary, inventor of the World Wide Web Tim Berners-Lee, and senior research scientist David Clark.
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