Microsoft is considering buying ByteDance’s TikTok
On Friday, the New York Times reported that Microsoft Corporation is considering buying the popular short video clip app known as TikTok. The conversation of buying TikTok started last week as the app have been facing a lot of backlash in the US market.
The president of the US said he would exclusively sign an order as per which, the app would be ban in the US. The decision of Trump followed uptight negotiations in the white house among the ByteDance team, White House officials, and potential buyers of the app like Microsoft. Unfortunately, ByteDance did not set any deal with the Trump formed committee, and the app eventually shed its operations in the country. On the other hand, the negotiation by TikTok will soon begin again.
Microsoft already owns a popular social media platform designated as LinkedIn. According to a resource, If Microsoft acquires TikTok; the company might face less regulatory hurdles than its more direct competitor like Facebook. The exact net worth of TikTok is still unclear when it comes to selling. The value otherwise is estimated to be in billions of dollars. ByteDance, on the other hand, is valued to be about $140 billion in private share transactions.
While addressing the issue, Trump said in a statement: “Not the deal that you have heard about, that they are going to buy and sell… and Microsoft and another one. We are not on M&A (merger and acquisitions) Country.” For now, the committee, along with the two tech giants, has refused to comment further on the TikTok situation. On the other hand, Microsoft is expected to come forward with a promising response soon. The TikTok representative said: “While we do not comment on rumours or speculation, we are confident in the long-success of TikTok.”