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The popular social media app TikTok could potentially be sold for billions of dollars if it is forced to separate from its Chinese parent company, ByteDance.
This comes as Congress considers a bill that would require TikTok to divest from ByteDance within five months, due to concerns over national security.
The House Select Committee on the Chinese Communist Party recently approved a bipartisan bill that aims to prevent Chinese officials from using TikTok to spy on U.S. users.
If the bill is enacted, TikTok would be required to sever ties with ByteDance to avoid a nationwide ban. Reports suggest that leaders in the tech and media industry are exploring the possibility of acquiring TikTok.
The Wall Street Journal has mentioned Bobby Kotick, the former CEO of videogame publisher Activision, and Sam Altman, the CEO of OpenAI, as potential buyers.
However, no official statements or offers have been made public at this time. It is estimated that the price tag for TikTok could be in the “hundreds of billions of dollars,” according to sources.
This indicates the significant value and potential profitability of the app, despite the challenges it currently faces.
While talks of a potential sale continue, it is important to note that no concrete decisions have been made, and the future of TikTok remains uncertain.
However, the possibility of a sale opens up new opportunities for the app and its user base, ensuring its continued presence in the social media landscape.
As discussions progress, it will be interesting to see how this story unfolds and what it means for the future of TikTok.
This article was updated 2 months ago
