Microsoft Confirms That They’re in Talks to Buy TikTok, Deal To Be Concluded by September 15th

The plot twists in 2020 continue



UPDATE: Microsoft has confirmed that they are in talks to buy TikTok in the US. In a blog statement, the tech giant has said that they will keep working with the US government on that proposed deal and hopes the talks will conclude by September 15th.

Microsoft plans to not only buy TikTok in the US but also Canada, Australia and New Zealand.

We are yet to know what happens to other countries that still have TikTok such as Africa and Europe. TikTok already has quietly made London its main hub in European.

Microsoft will probably offer other American investors to get involved in the acquisition

2020 is wild. TikTok, an app popular with Gen Z and Millenials has hard a tough time especially with concerns by the U.S about China’s access to data on Americans.

TikTok was under investigations citing national security risks. Most US government officials have banned employees from using the app.

India already banned the app in late June.

Earlier today, it was announced that Donald Trump had made plans to order China’s ByteDance to divest its ownership of the popular U.S.-based music-video app TikTok, according to people familiar with the matter.

According to this tweet, it looks like a US company would be buying a US portion of the app.

One name in the mix was Microsoft.

The Trump order would require ByteDance to cede majority control of TikTok, which investors have recently valued at $50 billion.

It’ll be interesting to see how rival social media apps take this. Facebook is already rolling out Reels to markets TikTok had popular use such as India.

TikTok would join LinkedIn as part of the social networks owned by Microsoft but where would it fit in its overall business model – that’s the question bothering tech pundits.

This deal comes days after tech giants Apple, Amazon, Facebook and Google participated in this week’s anti-trust hearings which Microsoft was not present and it’ll be interesting to see Satya Nadella pull this off.

TikTok already has an American CEO, Kevin Mayer who was previously a top Disney executive.

But is selling the app to an American company stop it from leaking user’s data?

Apparently, no. Tiktok could still legally sell the data to a broker, who could then sell it to the CCP.

People shared their reactions on Twitter

This is a developing story..keep refreshing for new updates