News > TikTok valued at $50 billion as US scrutiny forces company to shed Chinese ownership
TikTok valued at $50 billion as US scrutiny forces company to shed Chinese ownership
India Today | 30/07/2020 10:12 AM | Click to read full article
Some investors of TikTok’s parent company ByteDance seeking to take over the popular social media app are valuing it at about $50 billion, significantly more than peers such as Snap Inc.
Beijing-based ByteDance is considering a range of options for TikTok amid pressure from the United States to relinquish control of the app, which allows users to create short videos with special effects and has become wildly popular with US teenagers.