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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 Occasion owns any portion of ByteDance. Sixty p.c of ByteDance, TikTok says, is owned by worldwide traders, together with People. One other 20 p.c is owned by TikTok workers, together with 7,000 People, 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 People. ByteDance shouldn’t be 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 US, together with a Pinterest competitor known as Lemon8 and CapCut, a wildly common video enhancing platform.
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