By: Jonathan Heit
Over the past several weeks, the tumult surrounding the entertainment platform TikTok has reached a fever pitch. Global Chair of our technology practice, founding partner Jonathan Heit, weighs in…
[Full disclosure: A+P represents TikTok, parent company Bytedance and Bytedance subsidiary Lark in several markets across Asia-Pacific]
If it seems like every day you are inundated with news about TikTok and its business prospects in the United States, well that’s because you are. Every few years there seems to be a “next new thing” the kids use, and this is certainly TikTok’s moment.
Thinking about other platforms that generated this type of attention over the years – namely YouTube, Facebook, Instagram and Snapchat – it’s important to recognize how so many of these also faced major global implications on the political and business landscapes.
However, few have been in the crosshairs quite like TikTok. Owned by Chinese parent company Bytedance, it faces incredible scrutiny. With reports on Sept. 14 that Oracle won the bid for TikTok’s technology ahead of the impending deadline for either a sale of its U.S. assets or a ban, it’s a good time to put the company under the microscope.
To show its reach and real impact, TikTok recently revealed it hosts about 100 million monthly active U.S. users . TikTok already goes far beyond “the kids” as the graphic below indicates: