(Reuters Breakingviews) - TikTok and Huawei Technologies have a common predicame...
The logo of TikTok application is seen on a screen in this picture illustration taken February 21, 2019. Picture taken February 21, 2019. REUTERS/Danish Siddiqui
The firms are in a no-win situation. TikTok boss Alex Zhu told the New York Times that if Beijing demanded data on users of the app known for its 15-second viral videos, he would say no. Huawei founder Ren Zhengfei, a former Chinese soldier, has also said he wouldn’t help his country spy on America. But it’s difficult for either to prove it – or to allay fears Beijing would find a means anyway. Members of Congress have called on parents to delete TikTok; the U.S.
But when it comes to finding an escape route, TikTok’s odds look better, because it could be spun or sold off. It has around 1.5 billion monthly active users. At the same $9 million per user that ByteDance paid for lip-sync app Musical.ly in 2017, TikTok could be worth $13.5 billion – easily large enough to sustain a public market listing. TikTok doesn’t really have Chinese users and stores its U.S. data within America’s borders, so there’s little lost by setting it loose.
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