US Congress is trying to ban TikTok again, and it appears that a ban in the U.S. might be imminent. The main question now is not if, but when TikTok will be banned. Additionally, amid these concerns, many are also wondering: Does China own Snapchat as well?
In light of the potential TikTok ban in the U.S., driven by concerns over data privacy and national security due to its Chinese ownership, many are questioning the ownership of Snapchat as well as other popular social media platforms.
So, does China own Snapchat? By examining the ownership structure of Snap Inc., the parent company of Snapchat, we'll clarify its ties, if any, to Chinese investors and address the broader implications for users and policymakers.
Does China Own Snapchat?
No, China does not own Snapchat. Snapchat is owned by Snap Inc., which is an American company. Snap Inc. is publicly traded and based in Santa Monica, California, founded by Evan Spiegel, Bobby Murphy, and Reggie Brown.
The company is entirely under U.S. jurisdiction, adhering to American laws and corporate regulations. Therefore, concerns about Snapchat facing similar national security scrutiny or potential bans like those facing TikTok are not applicable.
It should be noted that in 2017, Tencent Holdings, a Chinese investment firm known for owning the popular messaging app WeChat, acquired over 12% of Snap Inc.'s shares, according to a Securities and Exchange Commission filing.
However, owning 12% of Snap Inc., the parent company of Snapchat, does not mean that Tencent controls the company. They do not have voting rights or a position on the board, which limits their influence over company decisions.
In summary, while the Chinese company Tencent owns 12% of Snap Inc.'s shares, this percentage is insufficient to grant it ownership. Therefore, Snapchat is not owned by China, rather it remains under the control of Snap Inc., an American company based in California.
With that, we conclude our guide on whether China owns Snapchat. We hope you found this information helpful. Before you head off, check out our Snapchat guides, including how to see the best friends list on Snapchat Plus.