TikTok is a popular online platform used by over a billion people, from more than 150 countries. ByteDance is taking the US division of TikTok public. It will be a new venture called TikTok Global, which will take full control of the messaging and video hosting in the US.
TikTok has a preliminary valuation of $50bn. ByteDance has not yet announced how much it plans to raise for its IPO.
An IPO was planned for 2020. It was only a question of approving the operation of services in the US. Donald Trump ruled in favour, but on the condition that several requirements had to be met, including that the main owners of the company would be US companies or citizens. The bulk of the requirements have already been met. An IPO is expected in 2022, but the exact date is unknown.
TikTok has become a global platform for launching marketing campaigns for many big brands: Samsung, Huyndai, Maybelline New York, Estee Lauder and many others.
TikTok Global's management is predominantly made up of US directors. The US authorities themselves have identified a national security director, who is responsible for protecting the personal data of all users of the app. Among the investors and part owners of the new company are Oracle and Walmart.
TikTok is the fastest growing social network in the world. The number of users is constantly increasing, which makes the site even more attractive for advertising and marketing campaigns. The site's direct competitor, Kuaishou Technology, set a good example - its share price soared by 161% on the first day of trading on 5 February 2021.
