Chinese short-form video hosting service TikTok was launched in 2016. Owned by ByteDance, the subsidiary’s app has gained huge popularity across the world. According to sources from TikTok, the company may decouple from ByteDance. Reportedly, TikTok’s management announced that they intended to separate from parent ByteDance. Such a measure is considered a formality that the firm may implement to avoid a possible ban from the US government. The US authorities said that the social media app threatened the country’s national security. Thus, if TikTok fails to prove that it does not pose any threat to the country, it may cut ties with its home country and can be sold or go public. Notably, the social network is estimated at $40-$50 billion. The US authorities are concerned that TikTok is a China-based company that may collect data about US users and transfer it to the Chinese government. In early March, US President Joe Biden’s administration supported a bill introduced by senators that would allow the president to ban foreign social networks, including TikTok. Earlier, Bloomberg reported that Abu Dhabi’s investment firm Group 42 (G42) has acquired a stake in ByteDance. Apparently, G42 sees great potential in the Chinese firm as a rebounding Chinese economy supports its tech giants which managed to withstand three years of Covid restrictions and endless regulatory crackdowns.