Why Xavier Niel (Free) is joining TikTok's board of directors ?

© Shutterstock/Frederic Legrand – COMEO

This is a big surprise. Xavier Niel, the founder of Free, recently joined the board of directors of Bytedance, the parent company of the social network TikTok. According to The Information, the latter does not invest in the company's capital. The French entrepreneur replaces Philippe Laffont, founder of the investment fund Coatue Management, specifies the American media.

What role for Xavier Niel ?

Thanks to his new functions, the billionaire will be able to participate in the company's votes and strategic decisions, report our colleagues at 01Net. A prospect that enchants the tech giant.

In a press release, a representative of ByteDance explained:

We are delighted that Xavier is joining our Board of Directors and look forward to his advice, contribution and inspiration. We will continue to strengthen the diversity of skills and expertise within our Board of Directors in order to protect the overall interests of the company and all shareholders.

TikTok threatened in Europe and the United States

While Xavier Niel did not wish to comment on this information, we can in any case note that his arrival comes at a complicated time for TikTok. This is particularly the case in the United States, where, under a new law, the platform is threatened with a ban if it does not sell its American activities to a local company.

In Europe too, the service is in the hot seat. We recall in particular that last August, it had to put an end to its rewards program launched in France and Spain four months ago.

TikTok is also regularly singled out by parents for its addictive side and its alleged effects on children's mental health. Under these conditions, the experience, network and know-how of the French boss are a real asset that the Chinese firm would be wrong to deprive itself of.

Let us also point out, as our colleagues from Le Figaro point out, that this is far from being a first for the entrepreneur who already sits on the boards of directors of Vodafone, Unibail Rodamco Westfield, and the American fund KKR.

As a reminder, Xavier Niel is expected at the Olympia on September 18. This time, it will not be a question of presenting a new Freebox but of presenting his autobiography during a conference entitled: “How to become a billionaire”.

What you need to know:

• Xavier Niel joins the board of directors of ByteDance, the parent company of TikTok
• He will bring his experience and knowledge of Tech
• The social network is in turmoil on the old continent and in the United States

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