Facing the risk of being banned in the US, TikTok's chances of survival increased after Donald Trump won the US presidential election with a promise to 'save TikTok'.
TikTok is fighting a ban in the US - Photo: REUTERS
According to the South China Morning Post , TikTok has received positive "survival signals" against the risk of being banned in the US, after Donald Trump won the election.
At the same time, the valuation of ByteDance - TikTok's parent company - also increased by about 300 billion USD.
Cameron Johnson, senior partner at consulting firm TidalWave Solutions, said the short-form video platform's prospects were "much brighter than they've ever been" following the Republican candidate's victory.
The new administration may ask TikTok to make some concessions, such as data localization and regulation, but "it probably won't ban TikTok outright because it helped them a lot in the election," Johnson said.
Mr Johnson added that saving TikTok could give Mr Trump an important tool in bilateral negotiations with the Chinese government .
The Wall Street Journal reviews TikTok's growth prospects have fueled a sharp rise in ByteDance's valuation in a new round of share buybacks from investors.
This figure marks an increase from the $268 billion valuation in December 2023, but is still lower than the $400 billion in 2021 - when the company is considering listing on an overseas exchange.
Although Trump tried to ban TikTok on national security grounds during his first term, the president-elect joined the platform in June 2024 and has more than 14 million followers.
By September 2024, Mr. Trump declared that he would "save TikTok" if he was elected.
Sharing with ABC News, Ms. Karoline Leavitt, spokeswoman for Mr. Trump's power transition team, said he will "fulfill the promises he made during the election campaign".
Previously, TikTok and ByteDance were protesting a law signed by President Joe Biden in April 2024, requiring TikTok to be sold by January 2025, or the platform would be banned from US app stores.
TikTok has repeatedly said it cannot and will not be sold. When Trump ordered TikTok sold in 2020, China updated its export control list to include two key technologies, preventing the app from being broken up and sold.
Source: https://tuoitre.vn/la-bai-tiktok-cua-ong-trump-20241121162345696.htm
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