TikTok, a Chinese-based video-sharing app, has already shown success in its business. Due to its millions of users worldwide, TikTok has been a surprising social media app, especially in today's pandemic. Since the business seemed to be going extremely well for ByteDance, its owner, investors want a share for this success. Reportedly, this business tycoon is the one leading the bidding for the app's prices. Here's who it is and how much will it costs him.
TikTok is being sold to an American businessman?
You may have already heard about the speculations against TikTok. Early July, Tech Times reported that hacktivist group Anonymous claimed that TikTok is a 'Chinese malware' that everyone should be alarmed with.
If you think about it, this problem may be a challenge for the investors, since people could be dropping the app anytime they see fits. However, on Wednesday, July 29, TikTok has finally resolved this huge issue.
The Verge noted that the Chinese app is now opening its algorithm to the public, in order to prove that they are a well-secured app, even pushing their competitors to do the same.
"[W]e believe our entire industry should be held to an exceptionally high standard," writes TikTok CEO Kevin Mayer in a blog post. "That's why we believe all companies should disclose their algorithms, moderation policies, and data flows to regulators. We will not wait for regulation to come, but instead, TikTok has taken the first step by launching a Transparency and Accountability Center for moderation and data practices."
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