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Bytedance’s earnings leap 60%, TikTok’s divestiture might get a reprieve

2023 was an excellent yr for TikTok’s guardian firm, ByteDance, which noticed its revenue bounce roughly 60%. The corporate’s earnings hit more than $40 billion last year, from about $25 billion in 2022.

2024 – now that is a difficult yr for TikTok! On March 13, by a stunningly big margin, the Home handed a invoice that would ban TikTok within the U.S.

The purpose is ByteDance to promote its pursuits within the viral brief video app, or face a ban within the US. If all the pieces goes to plan (the invoice passes the Senate and Joe Biden indicators it), ByteDance could have a 165-day deadline to divest from TikTok. Ought to it not go the management of TikTok to an American-based firm, US app shops (like Apple’s, Google’s and Samsung’s) can be prohibited from providing TikTok within the nation.Now, Maria Cantwell, Chair of the U.S. Senate Commerce Committee, says that lawmakers might lengthen to at least one yr the proposed deadline to drive TikTok’s guardian firm to divest (by way of Reuters).

Based on her, the concept of extending the deadline to at least one yr is okay:

The longer deadline would put any potential TikTok ban properly into 2025 and past the November presidential election. On Monday, Cantwell instructed reporters she is going to meet with Senate Democratic Chief Chuck Schumer and Senate Intelligence Committee chair Mark Warner and “then we could have a recreation plan on proceed.”

On Wednesday, Cantwell mentioned it was nonetheless “potential” the Senate might take up the Home invoice however she reiterated that senators wish to make the invoice stronger and put it on a greater authorized footing. She famous that makes an attempt by former President Donald Trump’s administration and the state of Montana did not ban TikTok.

The plan to tackle Instagram

In the meantime, TikTok sticks to the plan to tackle Instagram with a brand new app for sharing photographs. It may launch within the not so distant future, and it would be known as Notes, permitting customers to share photographs very similar to Instagram.

Judging by teasers, up to now TikTok’s Notes appears to supply Polaroid-looking posts that includes a nonetheless picture and caption.

“Notes”? Effectively, it is onerous to not be salty, however… that is as an unimpressive app title because it will get. TikTok ought to attempt higher, in my private opinion.

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