Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 11 Pro Max, he has seen smartphones evolve into a global phenomenon.
Even though the U.S. government is working on legislation that would ban TikTok in the country , there is no denying that the app is a huge success in the states. U.S. revenue totaled $16 billion last year and with strong results like that, if ByteDance does decide to sell its stake in TikTok, it could ask for and receive a larger sum than it originally expected.
ByteDance had total revenue of $120 billion last year, up 40% from 2022's top-line number. And while ByteDance did have profits of $28 billion last year, TikTok is still spilling red ink which is something that any potential buyer is going to have to consider when formulating a bid. ByteDance is believed to have a close relationship with the Communist Chinese government and there is concern that TikTok collects U.S.
. The bill is targeted at TikTok, but could also impact other apps that collect user profiles from U.S. users and are"controlled by a foreign adversary." This means that such apps cannot be"subject to the direction or control" of someone in Russia, China, North Korea, or Iran. The bill now moves to the Senate where it is expected to have a harder time passing. If it does, the House and Senate reconcile any differences between their bills and vote. If the bill passes both the House and Senate, the next stop is the president's desk and President Biden has said that he will sign the bill if it reaches his desk.
China, on the other hand, is opposed to a forced sale of TikTok although Beijing will have to sign off on any deal reached to buy the platform from ByteDance.A discussion is a place, where people can voice their opinion, no matter if it is positive, neutral or negative. However, when posting, one must stay true to the topic, and not just share some random thoughts, which are not directly related to the matter.Multiple accounts - one person can have only one accountModeration is done by humans.
Tiktok Revenue Divestiture Bytedance Legislation Ban
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