ByteDance has recently been in the news due to escalating scrutiny over its flagship app, TikTok, amid concerns regarding data privacy and national security. The U.S. government has pressured ByteDance to divest its ownership of TikTok or face a potential ban, prompting various bids for the app, including one led by Reddit co-founder Alexis Ohanian. Additionally, the company has faced backlash over the safety of its platform, with lawsuits from victims' families alleging that TikTok promotes dangerous content to boost engagement.
Founded in 2012 by Zhang Yiming, ByteDance is a Chinese multinational internet technology company headquartered in Beijing. It gained global prominence with the launch of TikTok, a short-form video platform that has attracted millions of users worldwide. ByteDance is known for its innovative use of artificial intelligence in content recommendation and has expanded its portfolio to include various other apps and services. As of May 2020, the company was valued at over $100 billion, reflecting its significant impact on the social media landscape.