TikTok’s leadership is discussing the possibility of separating from ByteDance Ltd., its Chinese parent company, to help address concerns about national security risks
ikTok’s leadership is discussing the possibility of separating from ByteDance Ltd., its Chinese parent company, to help address concerns about national security risks.
TikTok’s U.S. business could be valued at $40 billion to $50 billion based on social media multiples and other factors, according to Bloomberg Intelligence analysts Mandeep Singh and Damian Reimertz. But Cfius, which is a panel of multiple agencies involved in national security, has stalled in its review process, leaving TikTok unsure of whether its plans will be sufficient to continue operating in the U.S., the people said. Members of the committee from the Justice Department have been unwilling to accept TikTok’s proposal, according to other people familiar with the matter.
TikTok is also facing a barrage of potential legislation in Congress, some of which mandates a separation. Lawmakers, concerned that the app may be forced to share data with the Chinese government or could be used as an influence tool by China, have proposed multiple bills with bipartisan support that call for banning the video-sharing app or selling it.
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