TikTok, a popular social media app, was created by the Chinese tech giant ByteDance in 2016. The app quickly gained popularity among teenagers and young adults around the world and has since become one of the most downloaded apps in both the Google Play Store and the Apple App Store.But despite its success, many people still wonder who exactly owns TikTok. In this article, we’ll take a closer look at the ownership of TikTok and the controversies surrounding it.
The Table
To begin with, let’s take a look at the table below to understand the ownership structure of TikTok.
| Company | Ownership |
|---|---|
| ByteDance | 100% |
| TikTok Global | Intermediate subsidiary of ByteDance |
| Oracle | 12.5% |
| Walmart | 7.5% |
As we can see, ByteDance is the sole owner of TikTok. However, given the app’s growing popularity in the United States, ByteDance was forced to create a subsidiary called TikTok Global to handle its operations in the U.S.
The Controversies
Despite its success, TikTok has also been dogged by controversies. Some have expressed concerns over the company’s ties to the Chinese government, and whether it could be using TikTok to spy on users.In an attempt to address these concerns, ByteDance has taken several steps to distance itself from the Chinese government. For instance, it has hired several U.S. executives to oversee its operations in the U.S. and has promised to store all U.S. data on U.S. servers.However, these measures have not been enough to satisfy some critics. As a result, the U.S. government has taken steps to ban TikTok from the country.
The List
Despite the controversies, TikTok remains one of the most popular social media apps in the world. Here are some interesting facts about the app:
- TikTok has over 1 billion monthly active users.
- The app is available in over 150 markets around the world.
- TikTok users spend an average of 52 minutes per day on the app.
- In 2020, TikTok was the most downloaded app in the world.
Conclusion
In conclusion, TikTok is owned by the Chinese tech giant ByteDance. Despite its success, the app has been dogged by controversies over its ties to the Chinese government. However, the company has taken steps to address these concerns, and TikTok remains one of the most popular social media apps in the world.