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Bloomberg Markets and Finance published this video item, entitled “What’s the Best Outcome for Investors of TikTok Parent Bytedance?” – below is their description.
Sep.02 — Fred Hu, founder of private-equity firm Primavera Capital Ltd. and a former Goldman Sachs Group Inc. executive, discusses the prospects for TikTok. President Donald Trump said he’s told people involved in the sale of the U.S. assets of TikTok that the deal must be struck by Sept. 15 and the federal government must be “well compensated,” or the service will be shut down. Hu is an investor in TikTok’s parent Bytedance Ltd. He speaks with Haslinda Amin and Rishaad Salamat on “Bloomberg Markets: Asia.”Bloomberg Markets and Finance YouTube Channel
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TikTok, known in China as Douyin, is a Chinese video-sharing social networking service owned by ByteDance, a Beijing-based Internet technology company founded in 2012 by Zhang Yiming. It is used to create short music, lip-sync, dance, comedy and talent videos of 3 to 15 seconds, and short looping videos of 3 to 60 seconds.
ByteDance first launched Douyin for the Chinese market in September 2016. Later, TikTok was launched in 2017 for iOS and Android in most markets outside of mainland China; however, it only became available worldwide, including the United States, after merging with another Chinese social media service Musical.ly on 2 August 2018.