Billionaire entrepreneur Frank McCourt talks about what it would take to buy TikTok as a bid for the popular app.
Social media app Lemon8 is in the spotlight as a possible US ban hangs over TikTok.
The threat to ban TikTok stems from a law signed by President Biden last year that seeks to ban the popular platform in the United States on January 19 if ByteDance is not divested. Oral arguments in a case centered on the possible ban are expected to be presented to the court on Friday Supreme Court of the country
Both Social media programs It is owned by the Chinese technology company ByteDance.
Lemon8 has been around for over four years. It also lives in several countries, including Japan, where it was originally produced, and the United States, where it launched in early 2023.
The Lemon8 app is set to be downloaded in the Apple App Store on a smartphone in the Brooklyn borough of New York City on Friday, March 31, 2023. (Gabby Jones/Bloomberg via Getty Images/Getty Images)
According to TikTok's recent press release, the app allows users to discover and share useful content related to beauty, fashion, travel and more.
This version has “creative tools, collages, filters, effects, stickers and text templates” that users can use when posting on the platform.
It is integrated with TikTok and allows users to have one account for both apps. This feature became available in November.
some of Lemon8 interfaces It seems to have similarities to Instagram and Pinterest.
The Lemon8 app is arranged on a smartphone in the Brooklyn neighborhood of New York City on Friday, March 31, 2023. (Gabby Jones/Bloomberg via Getty Images/Getty Images)
Get FOX Business on the Move by clicking here
FOX Business reached out to ByteDance to discuss whether Lemon8 is potentially affected by the law, which is expected to be reviewed by the Supreme Court. Based on its content, it targets websites and apps directly or indirectly operated by ByteDance, TikTok and its subsidiaries.
Lemon8 appears in both the Apple App Store and Google Play in the US, where it has 4.5 and 3.8 star ratings, respectively.
CapCut, Lark and Mobile Legends: Bang Bang are among the apps that ByteDance has in addition to TikTok and Lemon8. In the United States, more than 170 million people use its TikTok app.
Click here to read more about FOX BUSINESS
ByteDance was founded in 2012.
The ByteDance logo is seen at the company's headquarters on January 6, 2022 in Shanghai. (Photo by VCG/VCG via Getty Images/Getty Images)
According to Forbes, its founders, Zhang Yiming and Liangu Rubo, are both billionaires, with assets of $45.6 billion and $2.2 billion, respectively.