Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

TikTok tells U.S. lawmakers it does not give information to China's government

10/26/2021 | 03:15pm EST
FILE PHOTO: A TikTok logo is displayed on a smartphone in this illustration

WASHINGTON (Reuters) -An executive at TikTok faced tough questions on Tuesday during the video-sharing app's first appearance at a U.S. congressional hearing, saying it does not give information to the Chinese government and has sought to safeguard U.S. data.

Senators at the hearing also voiced concerns that TikTok, owned by Beijing-based internet technology company ByteDance, and rivals YouTube, owned by Alphabet Inc , and Snapchat have algorithms that can be harmful to young people.

Michael Beckerman, TikTok's head of public policy for the Americas, became the company's first executive to appear before Congress, testifying to a subcommittee of the Senate Commerce Committee. Republicans in particular pressed Beckerman on worries regarding TikTok's stewardship of data on the app's users.

Senator Marsha Blackburn, the panel's top Republican, said she is concerned about TikTok's data collection, including audio and a user's location, and the potential for the Chinese government to gain access to the information. Blackburn questioned Beckerman on whether TikTok could resist giving data to China's government if material were to be demanded.

"We do not share information with the Chinese government," Beckerman responded.

Under questioning by Republican Senator Ted Cruz, Beckerman said that TikTok has "no affiliation" with Beijing ByteDance Technology, a ByteDance entity at which the Chinese government took a stake and a board seat https://www.reuters.com/world/china/beijing-owns-stakes-bytedance-weibo-domestic-entities-records-show-2021-08-17 this year.

Beckerman also testified that TikTok's U.S. user data is stored in the United States, with backups in Singapore.

"We have a world-renowned U.S. based security team that handles access," Beckerman said.

Republican Senator John Thune said TikTok is perhaps more driven by content algorithms than even Facebook, as the app is famous for quickly learning what users find interesting and offering them those types of videos.

Beckerman said TikTok would be willing to provide the app's algorithm moderation policies in order for the Senate panel to have it reviewed by independent experts.

Executives from YouTube and Snapchat also testified. In a show of bipartisanship, senators of both parties, including Democratic panel chairman Richard Blumenthal, accused the three companies of exposing young people to bullying and sometimes steering them to information that encouraged harmful behaviors such sexualized games or anorexia.

The executives responded that their companies have sought to create a fun experience and to exclude dangerous or unsavory content.

Republican former President Donald Trump had sought to bar TikTok - a popular platform used by millions of Americans to post short videos - from U.S. app stores, saying it collected data from American users that could be obtained by China's government and posed a threat to U.S. national security.

Democratic President Joe Biden later revoked Trump's plan https://www.reuters.com/technology/us-withdrawing-trump-executive-orders-that-sought-ban-tiktok-wechat-2021-06-09, but sought a broader review of various foreign-controlled apps.

(Reporting by Diane Bartz and Sheila Dang; Editing by Will Dunham)

By Diane Bartz and Sheila Dang

ę Reuters 2021
All news about FACEBOOK INC
08:59aTech Stocks Dip Premarket Tuesday
08:36aUK watchdog orders Facebook owner Meta to sell Giphy
08:03aMeta Platforms Ordered by UK Regulator to Sell Giphy After Investigation Deems Acquisit..
07:21aFACEBOOK : Spread Kindness This GivingTuesday and Beyond
07:11aFTSE Drops, John Menzies Seen Poised to Recover Strongly From Pandemic
06:35aAustralia to raise possibility of more legislation on tech giants with new inquiry
06:14aSOCIAL BUZZ : Wallstreetbets Stocks Mostly Trading Lower Ahead of Tuesday Opener
05:59aTwitter's Leadership Change Unlikely to Set Stage for Hitting Monetization, Revenue Gro..
05:55aUK Regulator Directs Facebook to Sell off Giphy Over Competition Concerns -- Update
05:33aUK Regulator Directs Facebook to Sell off Giphy Over Competition Concerns
More news
Analyst Recommendations on FACEBOOK INC
More recommendations
Financials (USD)
Sales 2021 118 B - -
Net income 2021 39 871 M - -
Net cash 2021 69 121 M - -
P/E ratio 2021 24,3x
Yield 2021 -
Capitalization 940 B 940 B -
EV / Sales 2021 7,41x
EV / Sales 2022 6,12x
Nbr of Employees 68 177
Free-Float 84,5%
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 52
Last Close Price 338,03 $
Average target price 403,70 $
Spread / Average Target 19,4%
EPS Revisions
Managers and Directors
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
Sector and Competitors
1st jan.Capi. (M$)
FACEBOOK INC23.75%940 318
MATCH GROUP, INC.-11.32%37 956
TWITTER, INC.-15.46%36 538
BUMBLE INC.0.00%4 527
GREE, INC.64.96%1 740