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> MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, will take 15% stake, with social media firm valued at $14bn So they value the most attention owing social
by baxtr 1y ago
> MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, will take 15% stake, with social media firm valued at $14bn
So they value the most attention owing social media at a mere $14b? As reference: Meta has a total market cap of around $1.8 T.
- jasonlotito 1y agoFor what it's worth, this is just TikTok US, not TikTok as a whole. Make of that what you will.
- pzo 1y agostill looks small if simplifying and counting just by global population would be 340/8100*1800 = ~$75B. Besides US market is more profitable.
- jasonlotito 1y agoMeta is more than just Facebook though. > still looks small if simplifying and counting just by global population Yes, I agree, if you ignore everything except one single number, I can see how it can be confusing.
- prmoustache 1y agoAre the US Tiktok infra, network and user feeds separated from the rest of the world?
- jasonlotito 1y agoYes. This is fairly common knowledge.
- prmoustache 1y agoSo people in Europe and Latin America for example cannot see USA accounts/contents and vice-versa? What about Canadians?
- paxys 1y ago"Sell to our preferred investors for pennies on the dollar or lose access to the most lucrative market in the world". It's not like TikTok had a choice.
- xenobeb 1y agoIt is so outrageous to value Tiktok USA at $14 billion. Forget Meta's market cap, does anyone think Zuckerberg wouldn't have paid 20 billion for Tiktok USA ? Just so corrupt and to even call it a sweetheart deal is outrageous. I thought it should just be banned in the US. The idea we are basically strong arming a whole nation and stealing a company at a bullshit valuation is completely insane.
- sfifs 1y agoThe problem with operating this way is it's very easy for the same gun to be used against you when political winds inevitably change. In Bangalore famously, one administration's politicians had bought up all farmland and then announced the new airport location in that area. When they lost the election, the next administration moved the airport after the project had already started to a different inferior location dozens of kilometers away where it stands today mainly to impose losses on their political opponents. This is also why connectivity to the airport is poor to this day.