Late last month, the White House gave all federal agencies 30 days to wipe TikTok off all government devices. The Journal report cited anonymous “people familiar with the matter.” The Treasury Department and the White House’s National Security Council declined to comment. user data and systems, with robust third-party monitoring, vetting, and verification, which we are already implementing.” "The best way to address concerns about national security is with the transparent, U.S.-based protection of U.S. “If protecting national security is the objective, divestment doesn’t solve the problem: a change in ownership would not impose any new restrictions on data flows or access," TikTok spokesperson Maureen Shanahan said. ban on the app unless its owners, Beijing-based ByteDance Ltd., divested. The company was responding to a report in The Wall Street Journal that said the Committee on Foreign Investment in the U.S., part of the Treasury Department, was threatening a U.S.
The FT revealed on Tuesday that TikTok has undergone a restructuring of its US operations, following a similar leadership reorganisation in Europe earlier this year.WASHINGTON – TikTok was dismissive Wednesday of reports that the Biden administration was calling for its Chinese owners to sell their stakes in the popular video-sharing app, saying such a move wouldn't help protect national security.
Last month, Facebook and Instagram-owner Meta posted declining revenues, falling by 4 per cent, while YouTube and Snap both saw a slowdown in revenue growth, missing analyst estimates.
It is the first sign that TikTok, though still growing quickly, is struggling with the same issues that have ailed its older social media rivals. The company had previously shelved plans to list overseas, after Beijing launched a crackdown on Chinese tech giants last year. In the same meeting, staff were told that the Hong Kong IPO of ByteDance, TikTok’s Chinese parent company, was unlikely to take place this year. But several current and former employees told the Financial Times that TikTok had overspent in other areas, from salaries to social events. During the meeting, staff were blamed for not driving enough sales in both advertising and ecommerce, the platform’s main sources of income, these people said.
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