As TikToks existential roller coaster ride continues to rattle on, the company is trying to sway regulators and the public with a flood of dollars and arguments wrapped in free enterprise and free speech to ensure that its parent company ByteDance can retain control of its operations.
The push to validate its business comes as reports swirl around a potential presidential ban and bid from Microsoft to take over the companys business in the U.S.
As it confronts domestic competitors and political attacks, TikTok and its parent company ByteDance have picked up some defenders from the American civil rights movement.
Late last night, the American Civil Liberties Union tweeted its objections to the proposed ban by President Trump.
With any Internet platform, we should be concerned about the risk that sensitive private data will be funneled to abusive governments, including our own, the ACLU wrote in a subsequent statement. But shutting one platform down, even if it were legally possible to do so, harms freedom of speech online and does nothing to resolve the broader problem of unjustified government surveillance.
Even as ownership of the service remains an open question, the company moved quickly to reassure its users that TikTok would continue to operate in the U.S.
The company is also redoubling its efforts to appeal to creators even as it faces defections over its potential mishandling of user data.
On Tuesday, a clutch of the companys largest celebrities, with a collective audience of some 47 million viewers, abandoned the platform for its much smaller competitor, Triller.
Founded in 2015, two years before TikTok began its explosive rise to prominence, Triller is backed by some of the biggest names in American music and entertainment, including Snoop Dogg, The Weeknd, Marshmello,Lil Wayne, Juice WRLD, Young Thug,Kendrick Lamar,Baron Davis, Tyga, TI,Jake PaulandTroy Carter.
Now, TikTok stars Josh Richards, Griffin Johnson, Noah Beck and Anthony Reeves are joining their ranks as investors and advisors. Richards, Johnson, Beck and Reeves are also being compensated by Triller, but the reason they cited for leaving the service are the security concerns from governments.
Triller is compensating Richards, Johnson, Beck and Reeves, though the details of the deals are undisclosed. Despite that, the creators say theyre leaving TikTok because theyve grown wary of the Chinese-owned companys security practices.
After seeing the U.S. and other countries governments concerns over TikTokand given my responsibility to protect and lead my followers and other influencersI followed my instincts as an entrepreneur and made it my mission to find a solution, Richards, whos assuming the title of chief strategy officer, told theLA Times.
TikTok has responded by announcing a dramatic increase in the companys creator fund. Initially set at $200 million, in a blog post earlier this week, TikTok chief executive Kevin Mayer announced that the fund would reach $1 billion over the next three years.
TikToks charm offensive may stave off the assaults, but the company will need to address concerns around user data. Its the most pressing threat to the company and the one its least equipped to deal with.
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As threats to the company mount, TikTok pushes back - TechCrunch
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