TikTok Prepares to Shut Down U.S. Operations as Ban Deadline Approaches

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TikTok is preparing to shut down its U.S. operations on Sunday, as a federal ban is set to take effect barring its use unless its Chinese parent company, ByteDance, divests the app. This follows a law signed in April mandating a ban on new TikTok downloads and the prohibition of U.S. companies providing services for its distribution or maintenance. Although users who have already downloaded the app could still access it, the law restricts the ability to update or provide services to TikTok starting Sunday.

In response to the imminent shutdown, TikTok plans to display a pop-up message directing users to a website explaining the situation. Additionally, the company will give users the option to download their personal data. Despite the looming deadline, there are discussions around a potential delay. President-elect Donald Trump is reportedly considering issuing an executive order to suspend enforcement of the ban for up to 90 days. This proposal comes as the Biden administration is exploring options to delay the ban, possibly leaving the decision to the incoming president.

The situation remains fluid, with ongoing court deliberations. The U.S. Supreme Court is set to decide whether to uphold or pause the law. If TikTok is banned, it could lead to a broader impact, potentially making the app unavailable in other countries, as U.S.-based service providers play a crucial role in making TikTok accessible worldwide. TikTok has expressed concerns that the ban could make its operations unsustainable, with data centers unable to store the platform’s content and code.

While TikTok works to comply with the law, it has stated that a temporary suspension could allow for a swift restoration of its U.S. services if the ban is reversed later.

 

E-commerce Startup Rokt Valued at $3.5 Billion Following $335 Million Secondary Offering

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E-commerce technology firm Rokt has reached a valuation of $3.5 billion after securing $335 million in a secondary share offering. The offering was backed by prominent investors, including Tiger Global Management, Square Peg, Australia’s Barrenjoey, and SecondQuarter, with some of Rokt’s board members also participating in the deal.

Founded in 2012 in Australia, Rokt leverages artificial intelligence and machine learning to enhance the e-commerce experience by analyzing online shoppers’ behaviors and interactions with products. The company’s valuation had previously been $2.4 billion at the close of 2022, marking significant growth over the past year.

CEO and co-founder Bruce Buchanan expressed pride in the company’s progress, citing a remarkable 43% year-over-year revenue growth, which reached $600 million. Rokt has expanded globally, operating in approximately 15 markets across North America, Europe, and the Asia-Pacific region. Its clientele includes major companies like Uber, Macy’s, Live Nation, and AMC Theatres.

In a separate development, Rokt also announced a merger with customer data platform mParticle in a $300 million deal, further enhancing its growth trajectory.

Italy’s Data Centre Investments Set to Surge to €10 Billion by 2025-26

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Italy’s data centre investments are projected to reach €10 billion ($10.3 billion) in the 2025-2026 period, marking a substantial increase from the previous two years. This growth is driven by major technology firms eager to expand their cloud infrastructure to meet rising demand, particularly fueled by artificial intelligence (AI). According to a report from Milan Polytechnic University’s research hub, these investments will play a crucial role in boosting Italy’s technological capabilities.

However, the country faces challenges in accommodating this surge in investment. The report highlights potential bottlenecks in the power grid and the high cost of energy, which could impede the expansion of data centres. As large cloud developers, such as Microsoft and Amazon Web Services (AWS), ramp up their spending plans, access to affordable and reliable energy is becoming increasingly critical.

For context, Microsoft announced a €4.3 billion investment in Italy’s cloud network last year, while AWS committed to a €1.2 billion investment over five years. Despite these positive developments, concerns persist about the sustainability of the Italian electricity grid and its ability to support the growing demand for energy-intensive data centres. Marina Natalucci, director of the research hub, emphasized the need to address these energy supply challenges as Italy attracts more investments from global tech giants.