US scrutiny of China's TikTok the latest headache for SoftBank

Sen Rubio requests investigation into social media app part-backed by Vision Fund

20191010 20190814N tiktok (REUTERS)

TikTok operator ByteDance, known as the world's most valuable startup, bought Musical.ly in 2017 for a reported $1 billion. © Reuters

ALEX FANG, Nikkei staff writer

NEW YORK -- Calls by U.S. Senator Marco Rubio for a review of ByteDance's acquisition of the wildly popular social media app TikTok could also hit Japanese tech investor SoftBank.

SoftBank's Vision Fund, which is still reeling from the collapse in the value of its stake in shared office provider WeWork, is a major backer of the Chinese-owned ByteDance, one of the world's most valuable privately-held tech companies.

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