Who owns TikTok? What to know about parent company ByteDance amid sell-or-ban bill for app

外网TK资讯5个月前更新 Ming
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More than 170 million Americans use TikTok. For some, it’s a light-hearted social media app. For others, it’s a business. Since use exploded during the pandemic, TikTok has had a sweeping impact on American culture – as a search engine, a community hub and career-launcher.

But after Biden signed a sell-or-ban bill into law in late April, the popular app’s future is unclear. Critics are calling the measure a threat to free speech while supporters say it’s in the interest of national security.

Who owns TikTok?

TikTok is owned by ByteDance, a private global company founded by Chinese entrepreneurs. According to TikTok, about 60% of the parent company is owned by global institutional investors, 20% by the company’s founders and 20% by employees.

The app’s CEO is Shou Zi Chew, a Singaporean businessman.

When was TikTok made?

Before it was TikTok, the app was Musical.ly, a similar app popular among teenagers for lip-synching. Chinese entrepreneurs Alex Zhu and Luyu Yang launched Musical.ly in 2014, according to Vox. It was later acquired by ByteDance, which already owned Douyin, TikTok’s Chinese counterpart. Douyin debuted in China in 2016.

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