According to President Trump, there was evidence that TikTok was a national security threat. In 2020, then-US President Donald Trump signed executive order 13942 to ban TikTok in the US within 45 days if the parent company ByteDance did not sell it to an American company. By the end of 2018, the company had a presence in 150 markets in over 75 languages.ĭespite its incredible success, TikTok has been banned in numerous countries due to accusations of spreading “immoral” and “dangerous” content.įor example, TikTok has been banned several times in India due to criticism of the Indian government on the platform. TikTok merged with Musical.ly to take advantage of the latter app’s young user base in the US and other countries. In 2020, it was the most downloaded app.Īround the same time, ByteDance spent $1 billion to acquire the Shanghai company Musical.ly, a video platform that lets users create short, lip-synced music videos. It quickly became one of the most popular apps on both Apple and Google Play Store.
The app experienced a seismic growth in popularity among the Chinese population, so the company prepared for an international release.Īn international version of Douyin was created and called TikTok and was released in global markets in September 2017. Surprisingly, it was developed in only 200 days and was first released in China. It allows TikTok users to create short videos and share them with friends, family, and fans.īefore it was known as TikTok, it was called Douyin.ĭouyin was originally founded by the privately held Chinese company called ByteDance in 2017 after switching the name from A.me. “It doesn’t make any sense,” he said.TikTok is a widely known social media app used for sharing videos. Oracle should focus on enterprise-market acquisitions and not invest in a consumer app like TikTok that doesn’t fit with the rest of its business, said Jefferies analyst Brent Thill, who compares the idea to Delta Airlines buying a motorcycle company. Some analysts see Oracle’s interest in a consumer business as misguided. It competes with tech giants such as Microsoft and Amazon that provide cloud services as well as business-software specialists like Salesforce. Oracle primarily makes database software.
WHO OWNS TICTOC SOFTWARE
It installed former top Disney executive Kevin Mayer as its American CEO, but he resigned in August after just a few months on the job, saying the “political environment has sharply changed.”īoth Microsoft and Oracle are known more for their business software offerings than for those intended for consumers. The deal had come together rapidly after the administration ramped up its threats against TikTok this summer, despite TikTok’s efforts to put distance between its app and its Chinese ownership.
WHO OWNS TICTOC LICENSE
That means ByteDance would have to obtain a license from China to export any restricted technologies to a foreign company. In addition, the Chinese government in late August involved itself in the process by unveiling new regulations that restrict exports of technology that appear to include the system TikTok uses to choose which videos to spool up to its users.
government should get a “cut” of any deal, a stipulation and role for the president that experts say is unprecedented. The sale situation has been complicated by several factors, including Trump’s repeated demands that the U.S. TikTok has sued to stop the ban, but not the sale order. Enterprise software company Oracle reportedly did make a bid, as reported by The Wall Street Journal, The New York Times and several other outlets. Several other big tech companies including Facebook and Google considered a TikTok bid. Originally a home for wacky music-filled amateur videos, TikTok has rapidly grown its own roster of influencers and attracted stars such as Alicia Keys, Dua Lipa, Justin Bieber, Katy Perry and Snoop Dogg – and built a U.S. The Beijing-based media and tech company bought the teen-focused social app Musical.ly the following year, and the company merged the two apps in 2018. TikTok, known as Douyin in China, was developed by the Chinese company ByteDance in 2016.
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