Berliner Boersenzeitung - EU fine: TikTok's latest setback

EUR -
AED 4.172832
AFN 79.026252
ALL 98.533473
AMD 435.865408
ANG 2.033501
AOA 1042.492278
ARS 1341.382718
AUD 1.761882
AWG 2.046648
AZN 1.937113
BAM 1.957441
BBD 2.289139
BDT 138.536142
BGN 1.957441
BHD 0.427458
BIF 3374.629126
BMD 1.136238
BND 1.463427
BOB 7.833567
BRL 6.503026
BSD 1.13376
BTN 97.046213
BWP 15.2279
BYN 3.710243
BYR 22270.256305
BZD 2.277329
CAD 1.559219
CDF 3255.320948
CHF 0.933652
CLF 0.027658
CLP 1061.349784
CNY 8.185792
CNH 8.18499
COP 4673.317884
CRC 575.982876
CUC 1.136238
CUP 30.110296
CVE 110.357518
CZK 24.9307
DJF 201.891033
DKK 7.459638
DOP 66.926108
DZD 149.477315
EGP 56.22656
ERN 17.043563
ETB 151.709386
FJD 2.569023
FKP 0.844304
GBP 0.843238
GEL 3.113647
GGP 0.844304
GHS 11.620742
GIP 0.844304
GMD 81.808836
GNF 9823.235325
GTQ 8.7073
GYD 237.188848
HKD 8.910449
HNL 29.538764
HRK 7.535543
HTG 148.264298
HUF 403.983018
IDR 18553.623225
ILS 4.007521
IMP 0.844304
INR 97.176147
IQD 1485.145074
IRR 47864.007888
ISK 144.381425
JEP 0.844304
JMD 180.721508
JOD 0.805588
JPY 163.198912
KES 146.517532
KGS 99.364391
KHR 4540.806793
KMF 493.698517
KPW 1022.61381
KRW 1569.064837
KWD 0.348677
KYD 0.944792
KZT 579.635939
LAK 24496.752487
LBP 101581.555078
LKR 339.547649
LRD 226.742085
LSL 20.3028
LTL 3.355014
LVL 0.687299
LYD 6.210261
MAD 10.482088
MDL 19.669663
MGA 5184.391971
MKD 61.581627
MMK 2385.716477
MNT 4061.372659
MOP 9.158778
MRU 44.81457
MUR 51.994464
MVR 17.566879
MWK 1965.865388
MXN 22.06983
MYR 4.836392
MZN 72.616769
NAD 20.302621
NGN 1802.322445
NIO 41.72498
NOK 11.59481
NPR 155.272173
NZD 1.899507
OMR 0.434788
PAB 1.13375
PEN 4.106743
PGK 4.654902
PHP 63.403209
PKR 319.624871
PLN 4.265068
PYG 9058.674079
QAR 4.132364
RON 5.067053
RSD 117.288329
RUB 89.163542
RWF 1603.458374
SAR 4.26282
SBD 9.488455
SCR 16.118113
SDG 682.308627
SEK 10.876481
SGD 1.465195
SHP 0.892904
SLE 25.815764
SLL 23826.333896
SOS 647.943204
SRD 42.289056
STD 23517.823574
SVC 9.920317
SYP 14773.190126
SZL 20.296194
THB 37.177952
TJS 11.337104
TMT 3.982513
TND 3.389341
TOP 2.661184
TRY 44.6211
TTD 7.698454
TWD 33.957573
TZS 3060.175262
UAH 47.095297
UGX 4121.455229
USD 1.136238
UYU 47.209578
UZS 14475.135253
VES 107.768185
VND 29566.605839
VUV 136.680014
WST 3.143979
XAF 656.513167
XAG 0.034334
XAU 0.000343
XCD 3.070739
XDR 0.816492
XOF 656.513167
XPF 119.331742
YER 277.071243
ZAR 20.407361
ZMK 10227.504137
ZMW 30.185572
ZWL 365.868033
  • RBGPF

    -0.2380

    65.43

    -0.36%

  • CMSC

    0.1300

    22.22

    +0.59%

  • NGG

    0.8745

    71.39

    +1.22%

  • BTI

    0.2300

    45.2

    +0.51%

  • VOD

    0.0000

    10.34

    0%

  • GSK

    1.0300

    41.03

    +2.51%

  • RYCEF

    0.0700

    11.65

    +0.6%

  • RIO

    -0.7700

    59.43

    -1.3%

  • RELX

    -0.0100

    53.92

    -0.02%

  • SCS

    -0.0500

    10.31

    -0.48%

  • AZN

    1.9600

    72.83

    +2.69%

  • CMSD

    0.1100

    22.22

    +0.5%

  • BP

    -0.0700

    29.1

    -0.24%

  • BCE

    0.3000

    21.8

    +1.38%

  • BCC

    -0.9700

    86.88

    -1.12%

  • JRI

    0.1600

    12.94

    +1.24%

EU fine: TikTok's latest setback
EU fine: TikTok's latest setback / Photo: Roslan RAHMAN - AFP/File

EU fine: TikTok's latest setback

The massive EU fine against TikTok on Friday marks the latest setback for the popular Chinese-owned social media platform, which has more than one billion users.

Text size:

Here is a closer look at TikTok:

- Born in China -

TikTok's surge from niche video app to global powerhouse is one of the most significant shifts in digital entertainment since the advent of social media.

From teenage dancers to grandmothers sharing cooking tips, TikTok can transform ordinary users into global celebrities virtually overnight, revolutionizing the traditional path to stardom.

Originally launched in 2016 by Chinese tech company ByteDance as Douyin for the Chinese market, the international version TikTok was released in 2017.

It gained massive momentum after merging with Musical.ly, a lip-synching app, a year later.

- Secret sauce -

The secret sauce to the app's rapid expansion was its innovative recommendation algorithm.

Unlike other platforms that primarily showed content from accounts users already follow, TikTok's "For You" page served content based on viewing habits, engagement patterns and sophisticated content analysis.

A video from a complete unknown can reach millions if the algorithm determines it is engaging enough.

Its short-form video also helps keep users hooked.

Initially limited to uploads of 15 seconds, this was later expanded to up to 10 minutes. Videos as long as 60 minutes are currently being tested.

- Political suspicions -

TikTok's power to direct mass attention means its rise has not been without controversy, mainly for its Chinese ownership and the site's built-in unpredictability.

The platform has faced intense scrutiny from governments worldwide, particularly in the United States, over data privacy and potential ties to the Chinese government -- including accusations of spying and propaganda.

In 2020, India permanently banned TikTok along with other Chinese apps, citing national security concerns.

In Romania, authorities believe a Russian influence campaign through platforms including TikTok helped far-right candidate Calin Georgescu take the lead in the first round of the nation's presidential election in November.

Georgescu was excluded from a re-run of the poll after the first ballot was cancelled by the Constitutional Court.

Georgescu ally George Simion, leader of the far-right AUR party, has emerged as the favourite to win the new election on Sunday.

- Big fine -

An EU watchdog imposed a 530-million-euro ($600 million) fine on Friday, accusing it of sending personal data of Europeans to China and failing to guarantee that data was shielded from access by Chinese authorities.

It was one of the largest fines ever imposed by Ireland's Data Protection Commission (DPC), which acts on behalf of the European Union as TikTok has its European headquarters in the country.

The Chinese-owned social media giant, which is also in the crosshairs of the United States, acknowledged during a probe that it had hosted European data in China, contrary to a previous denial, according to the DPC.

- Fears for teenagers -

In March, Albania ordered all internet providers to block TikTok after a 14-year-old schoolboy was killed and another hurt in a brawl in the capital Tirana following a social media clash.

Other jurisdictions have also expressed fears about the potential effects of TikTok on young users. There have been accusations it funnels them into echo chambers and fails to contain illegal, violent or obscene content.

Britain's data regulator has opened investigations into social media including TikTok on how the platforms use data from children and teens.

Australia notably banned access to social media for all under-16s late last year.

In France a group of families is taking legal action against TikTok, accusing the network of showing their children content that could have encouraged them to commit suicide.

And in late December, Venezuela fined the company $10 million for "negligence" over the deaths of three teenagers participating in a dangerous online challenge.

TikTok last year withdrew a programme in its TikTok Lite app that rewarded users based on screen time.

- Sell or be banned -

The US Congress passed legislation in 2024 requiring ByteDance to divest control of TikTok in the United States or be banned from the country.

President Donald Trump has so far twice postponed the deadline for the sale of the social network, which has 170 million American users. The deadline is now set at June 19.

Trump said in early March that Washington was in talks with four groups interested in acquiring the app.

"A lot of people want it, and it's up to me," Trump said.

Trump's first administration had already attempted to force the sale of TikTok's US operations to American companies.

burs-lth/jj

(K.Müller--BBZ)