Tag: ByteDance

US appeal court approves law to ban TikTok in the UST
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December 8, 2024

TikTok Takedown: America’s Digital Iron Curtain or Silicon Valley’s Secret Weapon?

The recent ruling by the U.S. Court of Appeals for the District of Columbia Circuit has sent shockwaves through the social media industry, upholding a law that could effectively ban TikTok in the U.S. The ruling cited national security concerns. This decision marks a significant escalation in the ongoing tension between the U.S. government and Chinese-owned tech companies.
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ByteDance with $300 billion valuationB
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November 17, 2024

ByteDance Valuation Surges to $300 Billion Amid Strategic Buybacks and U.S. Legal Battles!

TikTok parent ByteDance is making waves in global markets with a self-valuation of $300 billion following a recent share buyback program. While the company expands its revenue and investor offerings, legal challenges in the U.S. continue to loom over its future. Investors betting on ByteDance are not just buying into a $300 billion valuation—they’re also navigating the uncertainties of regulatory compliance and market volatility.
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Old and new OpenAI CEO Sam AltmanO
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October 5, 2024

OpenAI Closes $6.6 Billion Funding at $157 Billion Valuation, Nearly Doubling its Valuation!

The AI pioneer OpenAI under Sam Altman closed its long-awaited funding round, announcing that it raised $6.6 billion at a $157 billion post-money valuation. OpenAI’s $157 billion valuation underscores its AI dominance, yet losses loom large. Will Thrive Capital, Microsoft, and Nvidia’s backing help steer the ship through the challenges ahead? Stay tuned for more.
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TikTok CEO Shou Zi ChewT
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May 8, 2024

TikTok Initiates Legal Battle Against U.S. Over Forced Sale Legislation!

TikTok and its parent company ByteDance have filed a lawsuit against the U.S. government, challenging a new law that mandates the sale of the social media platform due to national security concerns. The law, signed by President Biden on April 24, requires TikTok to find a non-Chinese buyer within nine months, with a potential one-year extension, or face a ban enforced by U.S. app stores and web hosting services.
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Former US Treasury Secretary Steven MnuchinG
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March 14, 2024

Geopolitical Power Game: Former U.S. Treasury Secretary Mnuchin Assembles Investment Consortium to Acquire TikTok

Steven Mnuchin, the former U.S. Treasury Secretary, has publicly expressed his intention to spearhead an acquisition bid for the social media platform TikTok. This announcement, made during an interview with CNBC, follows closely on the heels of legislative developments where the House passed a measure that could potentially ban TikTok in the U.S. or force its parent Chinese parent company ByteDance to sell it to an American entity.
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