United States investors are reportedly making moves to buy TikTok – the short video sharing app.
CNN reports that a group of investors, including venture capitalist firms – Sequoia and General Atlantic, are considering the option of buying a large chunk of the Chinese owned company.
Tiktok, a short video sharing app, owned by Chinese mother company – ByteDance, is struggling to survive the crackdown by the US government, due to the security and privacy breach accusation.
“There have been numerous suggestions made by external people not involved in the company’s internal discussions”, a Spokesman of TikTok said. The spokesman refused to make comments on any deal that might have been under discussion by the company.
“We are very confident in the long-term success of TikTok and will make our plans public when we have something to announce”.
ByteDance – the mother company of TikTok has been under intense pressure from the United States government since TikTok was accused of fondling with user data, an accusation the company has come out to deny.
TikTok has, in recent times, been trying to distance itself from its Beijing owner for months. The video sharing app recently employed Kevin Mayer as CEO. The company also opened offices in London, Paris, Los Angeles, Berlin, Dubai, Mumbai, Singapore, Jakarta, Seoul, and Tokyo.
Commentators are reportedly saying that ByteDance is merely caught in an intensifying cold war between China and the United States. This is a rancor between the Trump government and Beijing, surrounding Trade, Defense, Technology, Media, and Diplomacy.
The Trump reelection campaign recently placed adverts on Facebook, suggesting that TikTok was spying on US users. ByteDance has however, come out to deny the claims.
Donald Trump’s economic adviser – Larry Kudlow has said that decision has not yet been made on TikTok’s issue. Kudlow further commented that the video sharing app could have to pull out of the Chinese holding company, and operate as an independent American company, instead.
