Wildly popular social media app TikTok is said to have a draft agreement in place with the U.S. government that would allow it to continue operating in the country while retaining Chinese ownership.
07.09.2022 - 09:31 / thewrap.com
the sale never occurred. The Biden administration has taken a less confrontational approach with the app, but many new reports indicate that the private data of TikTok users is stored in China and not in the United States.
The sale proposal emerged after Trump signed an executive order in 2020 banning TikTok unless it offloaded its U.S. operations, citing national security concerns tied to the app’s data collection policies and close ties to China’s communist government.
TikTok, in response, said it never shares user data with government officials.The app has more than 1 billion users and its ad revenue is projected to triple from $3.88 billion in 2021 to $11.64 billion this year. It is expected to surpass the revenue of Twitter, at $5.58 billion, and Snap, at $4.86 billion, combined.
.Wildly popular social media app TikTok is said to have a draft agreement in place with the U.S. government that would allow it to continue operating in the country while retaining Chinese ownership.
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