Sharks are circling TikTok after House lawmakers last week passed a bill that if signed into law would essentially ban the app in the U.S. — unless China-based owner ByteDance sells it to a company without ties to the Chinese Government.
Should the ban take effect, three of TikTok’s competitors stand to benefit the most: Meta, Alphabet, and Snap Inc. These companies could see a bump in engagement on their short-form video platforms and get a split of billions in revenue, Wall Street analysts said.
“Given the enormous usage and engagement of TikTok in the U.S., banning TikTok would be a windfall for Meta, Google and Snapchat,” Lightshed Partners analyst Rich Greenfield wrote in a blog post on Thursday.
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