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Investors in Chinese company ByteDance, which owns TikTok, have valued the service at $ 50 billion, Reuters reported. They gave such an assessment as part of the negotiations on the transfer of control to TikTok, the agency's sources said. As one of them clarified, management of ByteDance recently discussed an approximate estimate of TikTok and counted on the amount of more than $ 50 billion.
Earlier, the US Foreign Investment Committee (CFIUS) raised concerns about the security of personal data that TikTok processes. Now ByteDance is considering various options for relinquishing control over the service, which has gained popularity among teens around the world, including the United States, the agency said.
According to sources, the estimate of $ 50 billion is 50 times higher than TikTok's forecast for 2020 revenue of $ 1 billion. For comparison, the American service Snap is estimated 15 times higher than the revenue predicted by Refinitiv analysts by 2020 - its estimate is about $ 33 billion.
In July, the Financial Times wrote that the US authorities want to blacklist ByteDance. If this happens, TikTok will not be able to operate in the country. The Information reported that a group of American investors ByteDance is discussing with the company's management the possibility of buying control in TikTok in order to prevent it from being blocked.
source: reuters.com, forbes.com
Earlier, the US Foreign Investment Committee (CFIUS) raised concerns about the security of personal data that TikTok processes. Now ByteDance is considering various options for relinquishing control over the service, which has gained popularity among teens around the world, including the United States, the agency said.
According to sources, the estimate of $ 50 billion is 50 times higher than TikTok's forecast for 2020 revenue of $ 1 billion. For comparison, the American service Snap is estimated 15 times higher than the revenue predicted by Refinitiv analysts by 2020 - its estimate is about $ 33 billion.
In July, the Financial Times wrote that the US authorities want to blacklist ByteDance. If this happens, TikTok will not be able to operate in the country. The Information reported that a group of American investors ByteDance is discussing with the company's management the possibility of buying control in TikTok in order to prevent it from being blocked.
source: reuters.com, forbes.com