ByteDance
Its parent company, Beijing-based ByteDance, is owned by founders and Chinese investors, other global investors, and employees. One of ByteDance's main domestic subsidiaries is owned by Chinese state funds and entities through a 1% golden share.ByteDance
TikTok, which is owned by Chinese company ByteDance, has faced scrutiny from U.S. government officials over how it handles the data of its U.S. users and its ties to China. The new law would require ByteDance, a tech company founded in China in 2012, to sell TikTok or the app will be banned in the U.S.TikTok's parent company ByteDance was founded by Chinese entrepreneurs.
Is TikTok illegal in China : TikTok has never been available in mainland China, a fact that CEO Shou Chew has mentioned in testimony to U.S. lawmakers. ByteDance instead offers Chinese users Douyin, a similar video-sharing app that follows Beijing's strict censorship rules.
Who funded TikTok
ByteDance is another story, though. The company has raised at least $7.4 billion in total funding from investors including Tiger Global Management, Sequoia Capital China, SoftBank and General Atlantic.
Why is TikTok banned in the US : Biden administration officials and some experts say the Chinese-controlled social-media app with 170 million U.S. users threatens national security because it can gather data on users and control the videos they see through its algorithm.
Instead, users can use "Douyin", the Chinese version of the app, subject to censorship. Access to the internet is heavily restricted in North Korea. TikTok is not among the permitted websites or apps in the country.
According to a release published by TikTok last May, about 60% of ByteDance is "beneficially owned by global institutional investors such as Carlyle Group, General Atlantic, and Susquehanna International Group," 20% by employees, and the rest by Zhang.
What will happen if TikTok is banned
TikTok, which is used by more than 170 million Americans, most likely won't disappear from your phone even if an eventual ban does take effect. But it would disappear from Apple and Google's app stores, which means users won't be able to download it.On March 16, the United Kingdom announced an immediate ban of TikTok on government official devices based on cybersecurity concerns outlined in a report by the National Cyber Security Centre. The European Parliament, Commission, and Council banned TikTok on staff devices, citing cybersecurity concerns.Several countries, including India, EU, Australia, Belgium, Canada, France, New Zealand, UK, and Afghanistan, have also banned TikTok. The US House of Representatives on Wednesday approved a bill that would force TikTok to cut ties with its China-based parent company Bytedance or face a ban in the United States.
Concerns that the Chinese government could access sensitive user data through the short-form video app TikTok, which is owned by the Chinese company ByteDance, have prompted the U.S. government to pass legislation banning the social media platform unless it is sold to a government-approved buyer.
Who controls TikTok : ByteDance
TikTok was banned in China but gained a billion users in five years. It is now run by a limited liability company based in Los Angeles and Singapore but is essentially owned by ByteDance. While its founders own only 20% of ByteDance, it's the controlling stake in the company.
Who are the investors of TikTok : Major U.S. investment firms such as General Atlantic, Susquehanna and Sequoia Capital own stakes in ByteDance, the parent of TikTok. Their investments are increasingly under fire.
Is TikTok banned in China
CHINA. TikTok has never been available in mainland China, a fact that CEO Shou Chew has mentioned in testimony to U.S. lawmakers. ByteDance instead offers Chinese users Douyin, a similar video-sharing app that follows Beijing's strict censorship rules.
Some countries have full bans on TikTok, including Afghanistan, India, Iran, Kyrgyzstan, Nepal and Somalia. Regions with partial bans and the devices they're banned on include the following: Australia — on devices issued by some individual government agencies. Belgium — on federal government work devices.Last year, the European Commission banned TikTok from officials' phones , as did a wide array of EU member countries such as Belgium, the Netherlands, Austria, Sweden, Finland and Ireland. The issue with suggestions of an EU-wide ban, though, is that the bloc doesn't have a formal say over national security concerns.
Who is the main owner of TikTok : Zhang Yiming
ByteDance was founded in 2012 out of a four-bedroom apartment in northern Beijing. Its founder, Zhang Yiming, was then a 29-year-old software engineer turned entrepreneur whose vision was to use big data and machine learning to analyze and curate content according to user preferences.