Reports: TikTok Plans IPO, Considers Instagram Co-Founder as CEO

Francesca Billington

Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.

Reports: TikTok Plans IPO, Considers Instagram Co-Founder as CEO

TikTok's Chinese-owned parent company ByteDance is reportedly planning to hold an initial public offering in the U.S. if President Donald Trump approves a deal with Oracle. The move hopes to avert Trump's ban of the popular app set to take effect next week.


On Wednesday, the Treasury Department provided ByteDance with revisions to the agreement the two companies have tentatively signed off on. Various media reported that Oracle will own a stake of TikTok, but how much each would own is unclear. Walmart may also be part of that arrangement. Any deal still must be cleared by Trump.

Walmart had previously sought to join a deal with Microsoft Corp, but their bid was rejected by ByteDance.

TikTok is also reportedly hunting for a new CEO and multiple outlets Thursday report Instagram co-founder Kevin Systrom is being considered.

Sunday will mark 45 days since Trump signed an executive order stating TikTok must strike a deal in the country or risk being banned. The administration accuses TikTok of collecting U.S. users data and sharing it with the Chinese government, a risk to national security. TikTok denies this.

If TikTok went public, it could be one of the largest tech IPOs yet. Some investors have valued the company

at $50 billion.
https://twitter.com/frosebillington
francesca@dot.la

Subscribe to our newsletter to catch every headline.

Why Women’s Purchasing Power Is a Huge Advantage for Female-Led Leagues

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Why Women’s Purchasing Power Is a Huge Advantage for Female-Led Leagues
Samson Amore

According to a Forbes report last April, both the viewership and dollars behind women’s sports at a collegiate and professional level are growing.

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la
LA Tech Week Day 5: Social Highlights
Evan Xie

L.A. Tech Week has brought venture capitalists, founders and entrepreneurs from around the world to the California coast. With so many tech nerds in one place, it's easy to laugh, joke and reminisce about the future of tech in SoCal.

Here's what people are saying about the fifth day of L.A. Tech Week on social:

Read moreShow less

LA Tech Week: How These Six Greentech Startups Are Tackling Major Climate Issues

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

LA Tech Week: How These Six Greentech Startups Are Tackling Major Climate Issues
Samson Amore

At Lowercarbon Capital’s LA Tech Week event Thursday, the synergy between the region’s aerospace industry and greentech startups was clear.

The event sponsored by Lowercarbon, Climate Draft (and the defunct Silicon Valley Bank’s Climate Technology & Sustainability team) brought together a handful of local startups in Hawthorne not far from LAX, and many of the companies shared DNA with arguably the region’s most famous tech resident: SpaceX.

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la
RELATEDEDITOR'S PICKS
Trending