TikTok is in trouble again after facing a ban in India. After Donald Trump's recent commitment to ban the "Chinese" app, TikTok CEO Kevin Mayer resigns today. He has made this decision public today after staying in the position for only four months. TikTok is on the radar of many countries with anti-China sentiments proliferating after the outbreak of Coronavirus. The app is not responsible for the pandemic, or its effect in any way; however, the reasons are purely political. Mayer's resignation comes at the worst time as the company is trying to keep holding on to its customer base.
Donald Trump vs. TikTok: What You Need to Know
The short video recording is facing stringent actions from the President of the US currently. However, TikTok is not the only app on Donald Trump's radar. Chinese IM and social platform WeChat is also facing a similar conundrum. President Trump is showing concern towards the data security of the citizens of the USA. According to the President, the Chinese apps allow the Chinese government to monitor US citizens with these apps. Therefore, if they want to avoid a ban, they need to find an American owner. ByteDance Inc, the owner of TikTok, needs to find a buyer for TikTok in less than 45 days.
TikTok and Kevin Mayer: An Unlucky Match for Both Parties?
Kevin Mayer's resignation comes just four months after he left Disney to join TikTok. After joining the company as a CEO, Mayer was also handling the position of COO in ByteDance. Shortly after his joining, anti-China sentiments started rising in different countries. India is among the first names imposing a ban on TikTok. The Indian government's decision was a big blow to TikTok's global plans because they lost the most prominent South Asian market. However, the short video making app still has over 100 million active users in the US. If they decide to sell it, they will be looking for around $50 billion. Tech giants of the US like Microsoft and Oracle are showing interest, but there's nothing concrete so far.
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TikTok is the fastest growing social platform with direct competition to Facebook. In August 2020, ByteDance announced 2 billion global downloads of the lipsync app. Buying TikTok will bring considerable profits to any company. Therefore, there is no shortage of potential buyers. However, Kevin Mayer's resignation poses some questions about the future leadership of the company. ByteDance needs to resolve the conflicts soon because the clock is running against them. Additionally, there is a big question mark on their policy because if the TikTok CEO resigns at such a crucial time, the company is heading towards an uncertain future.
