The future of TikTok in the United States remains in doubt after President Biden signed legislation potentially banning the popular video-sharing app, unless its owners agree to sell the platform. Although TikTok CEO Shou Zi Chew has publicly rejected plans to sell the company, industry analysts estimated the price between $20 billion to $100 billion, according to the WSJ.
Some experts speculate that a potential sale could occur without TikTok’s core algorithms, which could be an option ByteDance may consider if it wishes to remain in the US market. However, marketing and social media experts argue that such a version of the app would greatly reduce its appeal and effectiveness, which has been the core success of the viral platform.
Currently, there are 170 million Americans using it and engaging with content of thousands of local influencers. Moreover, President Biden’s election campaign joined TikTok earlier this year, aiming to reach out to young audiences.
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