News Summary

• TikTok has been at the center of controversy in the U.S. for four years now due to concerns about user data potentially being accessed by the Chinese government.
• A number of investors are competing for the opportunity to purchase the app, and if a deal were to go through, the platform could have its valuation soar to upward of $60 billion, as estimated by CFRA Research’s senior vice president, Angelo Zino.
• The drama first began in August 2020, when Trump signed an executive order to ban transactions with parent company ByteDance.