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ByteDance is a Beijing-based Chinese Internet technology company founded in March 2012 by Zhang Yiming. It is known for operating a group of machine-learning-enabled social media platform, such as TikTok, Helo, Vigo Video, Douyin (the Chinese version of TikTok), BaBe, and Huoshan. As of May 2020, ByteDance is reportedly worth $100 billion. ByteDance is a direct competitor to other Chinese giants, including Alibaba, Baidu, and Tencent.
At a press conference in the White House, U.S. President Donald Trump explained in detail why, in his opinion, Microsoft or another "big," "secure," and "very American" company should buy TikTok.
In its blog post, Microsoft confirmed talks on the purchase of the American share of TikTok, and declared its readiness to continue discussing the potential deal after a conversation between Microsoft CEO and US President.
Due to the US pressure over the Chinese company, ByteDance is considering several options of how the situation may develop. That's why now some investors want to acquire the popular short video app TikTok.
In China, the Cyberspace Administration conducted a large-scale check of the largest video platforms, revealing many violations in their work. As a result, sanctions (including fines) were imposed on the services, and TikTok’s developer was among them.
TikTok Moderators Were Told to Not to Promote Videos by Poor Users or Those With “Ugly Facial Looks,” According to Leaked Policies
TikTok told its moderators to suppress videos made by users who were deemed poor, ugly, disabled, or obese because this would help attract new users to the social platform.
The ban comes in a short while after the United States Navy had prohibited sailors from using TikTok on government devices over cybersecurity worries as well.