Who owns TikTok in 2022? Everything to know about the popular app

TikTok is arguably one of the biggest social media platforms, with many famous figures rising to stardom thanks to the platform. However, considering how massive the company is, many want to know who owns TikTok at the moment. In this article, we look at what exactly the social media platform entails, who currently owns the company, and how safe the platform truly is.

In case you were curious, the current TikTok CEO (chief executive officer) is Shou Zi Chew, who also acts as the CFO (Chief Financial Officer) of the platform's parent company, ByteDance. Through his watchful eye, the app became an overnight sensation and made billions in revenue annually. Considering the huge financial and commercial success the company has gained, it is no wonder so many people want to know who the brains behind the operation are and who rakes in all the money.

Read also

Will Smith set to receive a $35 million dollar payment for his role in 'Emancipation': "He's securing the bag"

Who bought TikTok?

There have been various curious investors throughout the time TikTok has been around, especially as of late. So, who owns TikTok in 2022, and what companies own the famous app? Here we go into detail about the current owner, the company it falls under, and the company's financial standing in question, among other many things.

What is TikTok?

Originally called Musical.ly, which was developed in April 2014, the app was always designed to blend social networking and music to create a video platform where users (previously known as 'Musers') created their videos that went up to 15-second videos. The common theme was dancing, lip-syncing and comedy skits. All of this is still accurate today with what we now know as; all that has changed is the name, design layout and logo.

Read also

'Gangnam Style' impact endures a decade after it broke the internet

Is TikTok still owned by China?

The owner of TikTok is currently the Chinese company ByteDance. This original technology company launched the app in September 2016 after Musical.ly changed ownership from founders and long-time friends Alex Zhu and Luyu Yang.

Who owns TikTok in America?

For those wondering, 'Who owns TikTok in the US?' Oracle and Walmart were planning on obtaining over 20% of the company's global market at a total of $12 billion shared between the two companies. However, since Biden came into the presidency and showed concerns over the deal, it eventually fell through. The original company still owns the app.

Who is the actual owner of TikTok?

So then who owns ByteDance? Zhāng Yīmíng is the founder of the company that owns the app. The Chinese internet entrepreneur founded the company, which has since gained a huge amount of money through the successful app.

Read also

Lobbyist Mark MacGann comes out as Uber Files whistleblower

Who owns TikTok's net worth?

Considering valuations have estimated the app to be worth at least $50 billion, many want to know who will reap the rewards. Of course, that individual would be Zhang Yiming, with some reports estimating his extreme wealth at $44.5 billion this year.

Is TikTok safe?

A quick TikTok search shows some concern surrounding the safety of users on the app after a recent highly-dangerous viral trend called the 'blackout challenge' caused the deaths of two young American girls in 2021. However, various people state they do not feel the app, in particular, is any more dangerous than any other current form of social media.

To answer the question of who owns TikTok in 2022, the company that originally developed the app still has ownership of it. The parent company continues to rake in massive profits and an ever-growing amount of users on the platform, thanks to its resurgence of popularity over recent years.

Read also

Highest-paid TikTok stars in the world 2020

READ ALSO: Shocking story of TikToker Kalecia Williams, who was murdered while filming

Briefly.co.za wrote about another intriguing story surrounding the platform; the shocking murder of 26-year-old TikToker Kalecia Williams, who was gunned down while filming a video for the platform.

What do we know about her distressing murder, and how does the platform tie into it? Follow the link for more about the tragic story.

Source: Briefly News