TikTok CEO Pledges to Build Global Trust Amidst US Ban Dispute
- tech360.tv
- Oct 30, 2024
- 2 min read
TikTok CEO emphasises the importance of building trust globally amidst challenges. TikTok resists US government pressure to divest from Chinese owner ByteDance. TikTok's unique algorithm and commitment to innovation set it apart in the social media industry.
TikTok's CEO, Chew Shou Zi, expressed the company's commitment to earning trust worldwide while navigating challenges, including a potential ban in the US. Speaking at a summit in Saudi Arabia, Chew highlighted the importance of local trust in every market where TikTok operates. He emphasised addressing people's concerns as a key factor in building trust, acknowledging the industry's increasing scrutiny.
Chew is leading TikTok's efforts to resist pressure from the US government to divest from its Chinese owner, ByteDance, to avert a ban. TikTok filed a legal challenge following legislation signed by President Joe Biden, citing national security concerns and setting a deadline for the sale by January.
A three-judge panel at the US Court of Appeals is currently reviewing the case, with a decision expected by December. Chew reiterated TikTok's mission to inspire creativity and joy, highlighting the app's unique algorithm that promotes good content visibility. He also noted TikTok's commitment to embracing technology to adapt to the evolving social media landscape.
With over a billion active users globally, TikTok remains focused on staying innovative by welcoming young talent and fostering a culture of listening to new ideas. Chew, who gained attention during a US Congressional hearing, brings a wealth of experience from his background in finance and technology before joining ByteDance in 2021.
ByteDance, a private company, reported a 40% increase in global revenue to US$120 billion last year, with TikTok's US revenue reaching US$16 billion. Founder Zhang Yiming was recently named China's richest man, with an estimated net worth of US$490 billion, reflecting the company's significant growth and success.
TikTok CEO emphasises the importance of building trust globally amidst challenges.
TikTok resists US government pressure to divest from Chinese owner ByteDance.
TikTok's unique algorithm and commitment to innovation set it apart in the social media industry.
Source: SCMP
