Data security alarm puts TikTok in the political cross-hairs
âWhile we do not comment on rumors or speculation, we are confident in the long-term success of TikTok,â TikTok said in a statement. Last week, the U.S. Senate Committee on Homeland Security and Governmental Affairs unanimously passed a bill that would bar U.S. federal employees from using TikTok on government-issued devices. The proposal values TikTok at about US$50 billion, but some ByteDance executives believe the app is worth more than that. ByteDance acquired Shanghai-based video app Musical.ly in a US$1 billion deal in 2017 and relaunched it as TikTok the following year. The United States has been increasingly scrutinizing app developers over the personal data they handle, especially if some of it involves U.S. military or intelligence personnel.