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Rep. Nick Langworthy (R-N.Y.) made this accusation, saying, “TikTok is actually working Communist Chinese language malware.” TikTok denies that the Chinese language Communist Celebration owns any portion of ByteDance. Sixty p.c of ByteDance, TikTok says, is owned by worldwide buyers, together with Individuals. One other 20 p.c is owned by TikTok workers, together with 7,000 Individuals, and the ultimate 20 p.c is owned by the corporate’s founder. ByteDance has a five-person board of administrators; three of these seats are held by Individuals. ByteDance isn’t publicly traded, however is by some measures the world’s largest social media firm. Along with TikTok itself, ByteDance owns a variety of different apps in the USA, together with a Pinterest competitor known as Lemon8 and CapCut, a wildly standard video modifying platform.
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