Steve Mnuchin. (Public domain photo)
Former U.S. Treasury Secretary Steven Mnuchin says he is working with a group of investors who are interested in acquiring social video platform TikTok from its China-based parent company.
The affirmation, made during a television interview on Thursday, comes one day after federal lawmakers in the U.S. House of Representatives passed a measure that would ban TikTok from being distributed in major app stores unless ByteDance divests its U.S.-based business to a domestic third party.
The measure is now headed to the U.S. Senate, where it is uncertain if it will pass. However, the proposal has broad support on both sides of the political aisle, and President Joseph Biden has signaled his intention to sign the bill into law if it comes across his desk.
“I think the legislation should pass, and I think it should be sold,” Mnuchin said...
Former U.S. Treasury Secretary Steven Mnuchin says he is working with a group of investors who are interested in acquiring social video platform TikTok from its China-based parent company.
The affirmation, made during a television interview on Thursday, comes one day after federal lawmakers in the U.S. House of Representatives passed a measure that would ban TikTok from being distributed in major app stores unless ByteDance divests its U.S.-based business to a domestic third party.
The measure is now headed to the U.S. Senate, where it is uncertain if it will pass. However, the proposal has broad support on both sides of the political aisle, and President Joseph Biden has signaled his intention to sign the bill into law if it comes across his desk.
“I think the legislation should pass, and I think it should be sold,” Mnuchin said...
- 3/14/2024
- by Matthew Keys
- The Desk
The much-anticipated follow-up to her excellent documentary Coded Bias, Shalini Kantayya’s TikTok, Boom. doesn’t quite know what to make of the addicting viral app—a larger story than simply one about those kids today and their “content creation.” The issue at hand is the narrative builds to what might have been a thrilling geopolitical showdown (had a certain President been re-elected) that never came to pass. Covering TikTok for the business, user, and geopolitical angles, it aims to be comprehensive as it darts between multiple perspectives—the users, creators, activists, journalists, and lawyers fighting privacy battles.
Developed by Byte Dance of Beijing, the company has two products: its heavily regulated Chinese version Douyin, which is so sensitive even a tattoo or bleached hair will prevent a user from going live; and TikTok, its global platform. Founded in a small apartment by Zhang Yiming, the platform is primarily a...
Developed by Byte Dance of Beijing, the company has two products: its heavily regulated Chinese version Douyin, which is so sensitive even a tattoo or bleached hair will prevent a user from going live; and TikTok, its global platform. Founded in a small apartment by Zhang Yiming, the platform is primarily a...
- 1/28/2022
- by John Fink
- The Film Stage
The rise of the youth-favored app TikTok in the last few years would seem to provide material for a comedy about American materialism and thirst for popular attention, but director Shalini Kantayya’s wide-ranging documentary “TikTok, Boom.” lets us see that this story is actually more like the ominous basis for a kind of thriller about how the Chinese government might be harvesting data about young users throughout the world.
It all began in 2012 with Zhang Yiming, a Chinese internet entrepreneur who — from humble beginnings in a dreary, Ikea-furnished office — created Douyin, an app on which Chinese youth posted videos and got some very capitalist opportunities to take money to shill for products. One young male user was paid to talk up Ben & Jerry’s ice cream, but later in the film he tells us that the app will not allow anyone to post who has tattoos or has...
It all began in 2012 with Zhang Yiming, a Chinese internet entrepreneur who — from humble beginnings in a dreary, Ikea-furnished office — created Douyin, an app on which Chinese youth posted videos and got some very capitalist opportunities to take money to shill for products. One young male user was paid to talk up Ben & Jerry’s ice cream, but later in the film he tells us that the app will not allow anyone to post who has tattoos or has...
- 1/24/2022
- by Dan Callahan
- The Wrap
ByteDance, the Chinese owner of short-form video app TikTok, has put on hold, indefinitely, plans for an initial public offering in the U.S. or Hong Kong after government officials in China warned management to address data security risks, the Wall Street Journal reported on Monday, citing people familiar with the situation.
The Beijing-based company was valued at $180 billion in a round of funding in December. According to the paper, founder Zhang Yiming decided to put the IPO considerations on ice after meetings with regulators. It also cited a person close to the firm as noting that ByteDance didn’t have a CFO ...
The Beijing-based company was valued at $180 billion in a round of funding in December. According to the paper, founder Zhang Yiming decided to put the IPO considerations on ice after meetings with regulators. It also cited a person close to the firm as noting that ByteDance didn’t have a CFO ...
- 7/12/2021
- The Hollywood Reporter - Film + TV
ByteDance, the Chinese owner of short-form video app TikTok, has put on hold, indefinitely, plans for an initial public offering in the U.S. or Hong Kong after government officials in China warned management to address data security risks, the Wall Street Journal reported on Monday, citing people familiar with the situation.
The Beijing-based company was valued at $180 billion in a round of funding in December. According to the paper, founder Zhang Yiming decided to put the IPO considerations on ice after meetings with regulators. It also cited a person close to the firm as noting that ByteDance didn’t have a CFO ...
The Beijing-based company was valued at $180 billion in a round of funding in December. According to the paper, founder Zhang Yiming decided to put the IPO considerations on ice after meetings with regulators. It also cited a person close to the firm as noting that ByteDance didn’t have a CFO ...
- 7/12/2021
- The Hollywood Reporter - Movie News
San Francisco, May 21 (Ians) Chinese short-video making app TikTok has allowed creators to select and delete up to 100 harassing comments at once.
The new update, rolled out on Thursday, allows creators to delete and report remarks or block accounts in bulk.
Earlier, they had to select and delete nasty comments one by one when reporting, deleting, or blocking, reports The Verge.
ByteDance-owned TikTok said the feature is rolling out to "select markets" first and then globally in the "coming weeks."
TikTok in March announced two new in-app features to fight bullying and harassment.
The first feature gives creators more control over the comments on their videos, and the second prompts people to reconsider posting unkind or inappropriate comments.
The new anti-harassment tool for creators comes at a time when ByteDance's founder Zhang Yiming has announced that he will step down as the chief executive officer (CEO) and will hand...
The new update, rolled out on Thursday, allows creators to delete and report remarks or block accounts in bulk.
Earlier, they had to select and delete nasty comments one by one when reporting, deleting, or blocking, reports The Verge.
ByteDance-owned TikTok said the feature is rolling out to "select markets" first and then globally in the "coming weeks."
TikTok in March announced two new in-app features to fight bullying and harassment.
The first feature gives creators more control over the comments on their videos, and the second prompts people to reconsider posting unkind or inappropriate comments.
The new anti-harassment tool for creators comes at a time when ByteDance's founder Zhang Yiming has announced that he will step down as the chief executive officer (CEO) and will hand...
- 5/21/2021
- by Glamsham Bureau
- GlamSham
Zhang Yiming, the co-founder of Chinese tech giant ByteDance, parent company of TikTok, is stepping down from his role as chief executive. He will be succeeded by Liang Rubo, a fellow co-founder and current head of human resources. Zhang announced the leadership change in an internal memo to staff Thursday.
The leadership shake-up marks the most significant change at ByteDance since its founding in 2012. During that time, the firm has grown to become China’s most successful consumer-facing technology company, disrupting the U.S. social media landscape with its innovative and irresistible approach to shortform video.
Zhang told the ...
The leadership shake-up marks the most significant change at ByteDance since its founding in 2012. During that time, the firm has grown to become China’s most successful consumer-facing technology company, disrupting the U.S. social media landscape with its innovative and irresistible approach to shortform video.
Zhang told the ...
- 5/20/2021
- The Hollywood Reporter - Movie News
Zhang Yiming, the co-founder of Chinese tech giant ByteDance, parent company of TikTok, is stepping down from his role as chief executive. He will be succeeded by Liang Rubo, a fellow co-founder and current head of human resources. Zhang announced the leadership change in an internal memo to staff Thursday.
The leadership shakeup marks the most significant change at ByteDance since its founding in 2012. During that time, the firm has grown to become China’s most successful consumer-facing technology company, disrupting the U.S. social media landscape with its innovative and irresistible approach to short-form video.
Zhang told the ...
The leadership shakeup marks the most significant change at ByteDance since its founding in 2012. During that time, the firm has grown to become China’s most successful consumer-facing technology company, disrupting the U.S. social media landscape with its innovative and irresistible approach to short-form video.
Zhang told the ...
- 5/20/2021
- The Hollywood Reporter - Film + TV
Updated with Oracle statement, comments by Treasury Secretary Steven Mnuchin, statement by Walmart:
Treasury Secretary Steven Mnuchin told CNBC Monday that the deadline for a TikTok deal was September 20 — not the 15th as widely believed and reported — and said the government will be reviewing Oracle’s bid, lodged formally over the weekend, to become a U.S. technology partner for the popular Chinese-owned social media app.
Mnuchin said the Oracle pact includes a new U.S. headquarters for TikTok and thousands of jobs.
“We did get a proposal over the weekend that includes Oracle as the trusted technology partner with Oracle making many representations for national security issues. There is also a commitment to create TikTok global as a U.S.-headquartered company with 20,000 new jobs,” Mnuchin said. He Cfius, the Committee on Foreign Investment in the United States, will be reviewing the offer this week “and then we...
Treasury Secretary Steven Mnuchin told CNBC Monday that the deadline for a TikTok deal was September 20 — not the 15th as widely believed and reported — and said the government will be reviewing Oracle’s bid, lodged formally over the weekend, to become a U.S. technology partner for the popular Chinese-owned social media app.
Mnuchin said the Oracle pact includes a new U.S. headquarters for TikTok and thousands of jobs.
“We did get a proposal over the weekend that includes Oracle as the trusted technology partner with Oracle making many representations for national security issues. There is also a commitment to create TikTok global as a U.S.-headquartered company with 20,000 new jobs,” Mnuchin said. He Cfius, the Committee on Foreign Investment in the United States, will be reviewing the offer this week “and then we...
- 9/14/2020
- by Dade Hayes and Dino-Ray Ramos
- Deadline Film + TV
Kevin Mayer didn’t work at Disney for 15 years - and during that tenure architect the blow-away SVOD hit that is Disney+ and help orchestrate the mass collection of the greatest entertainment intellectual property on the planet like they were Pokémon cards - to get passed over for the role of CEO and then have new domestic corporate overlords. His pedigree and ambitions demanded a bigger gig, and he found that in TikTok.
As CEO of TikTok and COO of its parent company Bytedance, Mayer was supposed to lead the nascent, political-advertising-free, feel-good online video social networking service into its next phase of growth / world domination. What entertainment properties and merchandising opportunities was Mayer going to build on top of TikTok’s budding stars? How would his global experience at Disney help with navigating a Chinese-owned company with a monstrous foothold in the attention spans of Americans? What collaborations could...
As CEO of TikTok and COO of its parent company Bytedance, Mayer was supposed to lead the nascent, political-advertising-free, feel-good online video social networking service into its next phase of growth / world domination. What entertainment properties and merchandising opportunities was Mayer going to build on top of TikTok’s budding stars? How would his global experience at Disney help with navigating a Chinese-owned company with a monstrous foothold in the attention spans of Americans? What collaborations could...
- 9/3/2020
- by Joshua Cohen
- Tubefilter.com
Less than three months after leaping over from the Walt Disney Company, Kevin Mayer has resigned as the CEO of TikTok.
“In recent weeks, as the political environment has sharply changed, I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for,” Mayer wrote Wednesday to staff at the ByteDance-controlled short video-sharing app. “Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company. (Read Mayer’s full letter below.)
“We appreciate that the political dynamics of the last few months have significantly changed what the scope of Kevin’s role would be going forward, and fully respect his decision,” a TikTok spokesperson told Deadline in a statement tonight. “We thank him...
“In recent weeks, as the political environment has sharply changed, I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for,” Mayer wrote Wednesday to staff at the ByteDance-controlled short video-sharing app. “Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company. (Read Mayer’s full letter below.)
“We appreciate that the political dynamics of the last few months have significantly changed what the scope of Kevin’s role would be going forward, and fully respect his decision,” a TikTok spokesperson told Deadline in a statement tonight. “We thank him...
- 8/27/2020
- by Dominic Patten
- Deadline Film + TV
TikTok, the rapaciously growing social media platform controlled by ByteDance, disclosed the size and surge of its user base for the first time in a lawsuit filed Monday against President Donald Trump.
Privately held ByteDance, founded by Chinese internet entrepreneur Zhang Yiming, revealed it has 100 million monthly active users, up from 91.9 million in June and more than double the 39.9 million of last October. Since January 2018, the site has surged more than 800% from 11.3 million users, with its global footprint reaching 689 million users across more than 200 countries.
The president issued an order August 6 declaring the site will be banned unless it can secure an acquisition by a U.S.-based firm. Microsoft is among the candidates to buy the site. Hyped over the weekend and in a TikTok blog this morning, the complaint unveiled Monday in federal court in California (read it in full Here) seeks an order “invalidating” the president’s order.
Privately held ByteDance, founded by Chinese internet entrepreneur Zhang Yiming, revealed it has 100 million monthly active users, up from 91.9 million in June and more than double the 39.9 million of last October. Since January 2018, the site has surged more than 800% from 11.3 million users, with its global footprint reaching 689 million users across more than 200 countries.
The president issued an order August 6 declaring the site will be banned unless it can secure an acquisition by a U.S.-based firm. Microsoft is among the candidates to buy the site. Hyped over the weekend and in a TikTok blog this morning, the complaint unveiled Monday in federal court in California (read it in full Here) seeks an order “invalidating” the president’s order.
- 8/24/2020
- by Dade Hayes and Dominic Patten
- Deadline Film + TV
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