The fastest growing social media app of 2020 remains at the center of tension between the U.S. and China.
Time is running out for that app: TikTok. The president says if an American company (like Twitter or Microsoft) doesn't buy the Chinese-owned app's U.S. assets by mid-September, he's banning the platform. He's warned Beijing could spy on your kids and millions of other young people, who often share popular 15 second videos with the world. Digital marketing expert Adam Rizzieri says TikTok has become so valuable, Microsoft is looking to buy in to the tune of billions of dollars.
“It’s an opportunity to now have this huge data set, all this information on what compels Gen-Z, and what compels Millennials. And really, that information can now be leveraged towards R&D into new software, new hardware,” Rizzieri, who is also the Chief Marketing Officer with Agency Partner Interactive in Dallas, said.
If no deal is reached and the app is banned, he says other social media apps, like Instagram’s Reels could fill the void. Rizzieri says parents should be aware that if your kids are using TikTok, the information and videos they share can be seen by TikTok’s employees and marketing partners around the world.