TikTok’s management, led by CEO Shou Chu, has expressed its intention to appeal the decision in court, as it will directly affect about 170 million US users and 7 million companies that use the platform for their operations. Chu also emphasized the company’s significant investment in data security, which amounted to more than $1.5 billion last year.
U.S. lawmakers have consistently emphasized that TikTok could pose a threat to national security, as there is a potential for the Chinese government to require ByteDance to hand over personal data of U.S. users. The day before, it was reported that TikTok’s American business was being considered for separation from its parent company, which is estimated to be worth between $40 and $50 billion.