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TikTok Agrees to Pay $92 Million to Settle Lawsuit Alleging Data Theft

3Mar By PriyankaNo Comments

News

TikTok Agrees to Pay $92 Million to Settle Lawsuit Alleging Data Theft

CHICAGO, 3rd March 2021-- US-based law firms will receive a $92 million proposed class action settlement on behalf of users of the TikTok app. The settlement, if approved by the court, would resolve claims that the social media company wrongfully collected its users’ biometric information and private data, and disclosed that information to third parties. In addition to creating a monetary fund for TikTok users, the settlement requires that TikTok initiate a new privacy compliance training program and take other steps to protect its users’ privacy going forward. TikTok is a video-sharing social network that has denied any privacy violations, the class action lawsuit contended that the app collects and discloses personal data in violation of the Illinois Biometric Information Priv...

9Dec By AdityaNo Comments

FUNDING

Reface secures $5.5M in seed funding led by Andreessen Horowitz

KYIV, Ukraine, Dec. 9, 2020-- Reface, AI app for a video and GIF face-swaps raises $5.5 million in the seed round of financing led by Andreessen Horowitz and several well-known angel investors. With these funds, the startup aims to reinvent the way people interact with content. Reface strives to build the first social platform of dynamically personalized media content empowered with machine learning technologies. Since the official launch in January 2020, Reface app has been downloaded over 70 million times. Reface app allows you to snap a picture of your face and apply your likeness to any number of celebrities, without needing any After Effects or VFX knowledge. Within seconds, users can export their creations to a multitude of formats including animated GIF and standard ...

Pakistan unblock TikTok after it vows to moderate content

19Oct By PriyankaNo Comments

News

Pakistan unblock TikTok after it vows to moderate content

ISLAMABAD, Oct 19, 2020: The Pakistan Telecommunication Authority decided to unblock the video-sharing app TikTok after receiving assurance from Tiktok management to remove the vulgar content. The spokesperson of PTA said the TikTok management has assured the authority that it will block all accounts repeatedly involved in spreading obscenity and immorality and moderate content in accordance with local laws. The authority has not announced whether the app will be unblocked immediately. The authority had said at the time of the ban that the decision was made after it received complaints ‘against immoral/indecent content’ on the app. The PTA said it had issued a final notice to the app and gave considerable time to respond and develop and an effective mechanism for ‘proactive moder...

Oracle acquire TikTok US, Microsoft bid rejected

15Sep By AdityaNo Comments

ACQUISITION

Oracle acquire TikTok US, Microsoft bid rejected

New York, Sep 15th, 2020: Satya Nadella led Microsoft lost a bid to acquire TikTok in the US after the Chinese owner of the video-sharing platform select Oracle to be its technology partner for its American operations, ahead of the September 20 deadline set by President Donald Trump that the popular app will be banned in the US if it isn't sold to an American company Microsoft said in a statement on Sunday that the Chinese owner of TikTok ByteDance has informed it that they would not be selling TikTok's US operations to Microsoft. We are confident our proposal would have been good for TikTok's users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, an...

Walmart joins Microsoft bid to acquire video app TikTok

28Aug By PriyankaNo Comments

News

Walmart joins Microsoft bid to acquire video app TikTok

Washington, Aug 28, 2020: USA based world's largest retail store Walmart set to bid with Microsoft to acquire Chinese owned video app Tiktok. Walmart made a joint acquisition bid with Microsoft to acquire TikTok US business after the US President set the deadline to stop Tiktok operation in the USA. Microsoft provides cloud computing services that help run the retailer's stores and online shopping. The two companies signed a 5-year partnership in 2018, enabling them to join forces against a shared rival, online shopping giant Amazon. Walmart said in a statement that a deal with Microsoft and TikTok could help it expand its advertising business and reach more shoppers. TikTok has gained 100 million US users. But the White House is pushing TikTok's Chinese owner ByteDance to sel...

TikTok sues US President Trump over banning its app

25Aug By AdityaNo Comments

USA

TikTok sues US President Trump over banning its app

New York, 24th Aug 2020: Chinese short video platform TikTok suing Trump administration for banning its app service in the USA over national-security concerns. TikTok, owned by China's ByteDance said that it is not a national-security threat and that the government is acting without evidence or due process. The company filed suit Monday in federal court in California against the Commerce Department, President Donald Trump and Commerce Secretary Wilbur Ross, saying that it sought to prevent the government from “impermissibly banning" TikTok. President Donald Trump has issued two executive orders in August, first a sweeping but unspecified ban on any “transaction” with ByteDance, to take effect within 45 days. He then ordered ByteDance to sell assets used to support TikTok in the U...

Microsoft in talks to acquire TikTok, Trump considers ”banning” app in US

1Aug By PriyankaNo Comments

USA

Microsoft in talks to acquire TikTok, Trump considers ”banning” app in US

Washington, Aug 1, 2020: Microsoft said they are in advance talks to acquire TikTok's US operations, even as President Donald Trump considering to ban the popular Chinese-owned video app. "We are looking at TikTok. We may be banning TikTok," Trump told reporters at the White House. India has banned as many as 106 Chinese apps, including TikTok, a move welcomed by both the administration and the lawmakers. "We may be doing some other things. There are a couple of options. But a lot of things are happening, so we'll see what happens. But we are looking at a lot of alternatives with respect to TikTok," Trump said in response to a question. Microsoft team headed by Satya Nadella is in advanced talks to acquire the US operations of TikTok. The deal could run into billions of dollars. ...

TikTok pledges USD 250 mn for COVID-19 Relief

9Apr By PriyankaNo Comments

BUSINESS

TikTok pledges USD 250 mn for COVID-19 Relief

TikTok, the short video making app will contribute $250 million to coronavirus relief efforts around the world. The Chinese-based firm said the funds would be for "front line medical workers, educators, and local communities deeply affected by the global crisis." "We are committed to playing our part in that global outpouring of mutual support and giving," TikTok president Alex Zhu said in a statement."We want to magnify all we are seeing across our community and translate it into concrete relief for those most affected by this crisis." TikTok said USD 150 million of the funds would be allocated for medical staffing, supplies, and hardship relief for health care workers through the US Centers for Disease Control, World Health Organization, and agencies working to distribute suppl...

Google blocks TikTok app in India, Apple still running it

17Apr By AdityaNo Comments

News

Google blocks TikTok app in India, Apple still running it

After an Indian court decision, Google blocked video app TikTok in India from its App store. After refusal on the ban by southern Tamil Nadu court on the request by China's Bytedance Technology TikTok app future is now uncertain in India. As per the latest information, the app was still available on Apple's platforms but was no longer available on Google's Play store in India. The state court had on April 3 asked the federal government to ban TikTok, saying it encouraged pornography and made child users vulnerable to sexual predators. Its ruling came after an individual launched a public interest litigation calling for a ban. The federal government had sent a letter to Apple and Google to abide by the state court's order, according to an IT ministry official. “We have fa...