![]() ![]() There are several reasons why investing in TikTok might be worth your time and money, including: 1. This syndicate includes major banks such as Morgan Stanley and Goldman Sachs. One of the more prominent investors is SoftBank, but ByteDance also secured financing from a syndicate of 12 other banks. But it was reportedly worth $400 billion as of October 2021, according to anonymous private equity trades that were shared online.īyteDance has had 12 rounds of funding, totaling $9.4 billion. ByteDance has a firm valuationīyteDance, TikTok’s parent company, is a private company and doesn’t have a proven market value. This comes in the wake of the tragic deaths of some of its younger users while attempting TikTok challenges. That initiative includes a page that advises younger users to avoid distressing content or harmful challenges. TikTok also announced a new initiative to protect its younger users in February 2022. TikTok plans to begin implementing the strategy in early 2023. In April 2022, TikTok announced a strategy to locally store its European users’ data. For instance, it has been accused of harvesting user data and storing it in China without user consent. One of the biggest criticisms of TikTok has been how it handles user data. ![]() ![]() Eight new users join TikTok every second, HootSuite reported in 2022. In addition to its one billion active monthly users, it was the most-downloaded app in 2021, with 656 million downloads. This algorithm has helped TikTok grow at an eye-popping rate. The BBC reported in 2020 that TikTok has an “extraordinarily powerful algorithm, which learns what content users like to see far faster than many other apps.” With ownership of both Facebook and Instagram, Meta Platforms could be the runaway winner of the potential ban of TikTok.The way the app is designed could keep users scrolling for extended periods. In the recent poll, users were asked, “If TikTok is banned, which platform will you use more?” The ETFs are the Unusual Whales Subversive Democratic Trading ETF NANC and the Unusual Whales Subversive Republican Trading ETF KRUZ.īenzinga polled its followers to see where they may spend more time if TikTok is banned. Unusual Whales teamed up with Subversive Capital to launch two new ETFs that allow investors to invest alongside members of Congress on the top positions held. This creates conflicts of interest and can be avoided with a ban on trades made by members of Congress. While sometimes unintentional or not, decisions made by members of Congress can influence the share price of stocks they own in their portfolio. Why It’s Important: There have been increased calls from the public and select members of Congress to ban members of Congress from buying and selling stocks. Related Link: 10 Best Stock Traders In Congress In 2022 “A lot of the trades were seemingly around, or as a result of, deals that would not be known to the average trader,” the UnusualWhales founder told Benzinga previously. UnusualWhales was one of the first to track the trades of members of Congress with the I Am The Senate section of the website showing their trades and performance. The list does not include all members of Congress who own shares of the competing social media platforms, instead focusing on the largest holders. Pelosi and Khanna own the largest stakes in the social media platforms according to the report. The members of Congress who own substantial shares of Alphabet, Snap or Meta Platforms include: ![]() Here is a look at the members of Congress who own shares of the aforementioned companies, with data provided by UnusualWhales. Several members of Congress own shares of the stocks mentioned above and could stand to benefit from a ban on TikTok, causing a potential conflict of interest. ![]()
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