The U.S. House authorised laws that will push Chinese social media big TikTok to divest from its proprietor ByteDance to evade being banned from the U.S.
The lawmakers voted 352 in favor of the proposed legislation and 65 towards, in a uncommon second of bipartisan unity in politically divided Washington.
ByteDance has rocketed in recent times to turn out to be some of the beneficial corporations on the planet, value round $225 billion, in keeping with market intelligence agency CP Insights.
That places it effectively above Elon Musk’s SpaceX and ChatGPT maker OpenAI.
ByteDance launched TikTok in 2017, and the app took the world by storm, crossing a billion customers in 4 years.
The app was a global model of Douyin, which was launched in China in 2016 and now has a whole lot of hundreds of thousands of customers.
Thanks to the explosive progress of those apps, ByteDance has branched out into e-commerce and journey bookings and in addition launched a video enhancing app.
The Chinese firm says it has greater than 150,000 workers in nearly 120 cities worldwide.
Source: www.dailysabah.com