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TikTok has reached a USD 400 million settlement with the US Department of Justice, ending a 2024 lawsuit alleging the company violated federal children's privacy laws. The DOJ said Friday that TikTok will pay USD 300 million immediately and another USD 100 million after an order vacates an earlier consent decree against its predecessor company, Musical.ly. "This settlement is a major victory for American children and parents," said US Associate Attorney General Stanley E. Woodward Jr. in a statement. "The Department's priority is ensuring that children are protected online and that companies entrusted with their personal information meet their legal obligations. This resolution secures a substantial recovery while reinforcing the protections that families expect and deserve." Since the DOJ's lawsuit in 2024, TikTok has undergone major changes, most notably in the ownership structure of its US arm. In January, the social video platform company signed agreements with major investors .
India's booming short-form video market is just about getting started, with demand for engaging local content and uptake in smaller locations fuelling growth, Manohar Singh Charan, Chief Financial Officer of homegrown social media platforms ShareChat and Moj said. Differentiated services with regional relevance are driving sustained business momentum and yielding new opportunities for brands to connect with audiences, he added. In an interview with PTI, Charan said the company is on the brink of being EBITDA (earnings before interest, taxes, depreciation and amortisation) positive at a consolidated level. Mohalla Tech is the parent entity of the social media app ShareChat and the short video app Moj. He said hiring will be "cautious", geared to selective and specialised roles as the company gets into the profitability zone. The Google-backed company is also looking to rope in a few more marquee investors before it goes for an IPO in a 24-month timeframe. Charan said the company, i