Can a Twitter-TickTock transport the tie-up?
The Wall Street Journal, citing an anonymous person, said the social network and Tiktok, owned by Chinese bitdance, were involved in “initial” discussions about Tiktok’s operations in the United States merging with Twitter.
Twitter declined to comment. “As a matter of corporate policy, we do not comment on market rumors,” a TicTac representative said in an email on Sunday.
Last week, Microsoft confirmed that it was looking to acquire Tiktok, which is under threat from Donald Trump’s effective U.S. Tikt ban by September 21 – the president has claimed that the popular lip-syncing application “threatens U.S. national security, foreign policy, and the economy.” Going – “Don’t close a deal with any American buyer for TickTock’s US-based business unless you can bytendance.
Tikitok, meanwhile, plans to sue Trump earlier this Tuesday over his 6th executive order, arguing the president’s unilateral move is unconstitutional because it denies Tiktok any kind of action, NPR reported. The lawsuit also alleges that Trump failed to provide evidence that would make Tiktok a threat to U.S. national security.
On Friday, Tiktok called Trump’s order a “dangerous precedent for free speech and the idea of a free market” and said they were planning to fight the ban in court.
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It is unclear what the financial mechanics of a Twitter-tick combo look like. Twitter’s market capitalization is estimated at. 29.37 billion, based on its August closing price – about ৫০ 50 billion by a team of US-based BitTance investors seeking to gain control of TickTock, Reuters reported last month. The journal reported that Twitter “would almost certainly need help” to start a deal for Tiktok.
TickTock lets users create, edit, and share 15-60 second long videos. If TickTock becomes part of Twitter, it will be Twitter’s second attempt to enter the short-form video arena: before that, the failure spread through the acquisition of Vine in 2012 – but Twitter shut down the 2017-second video app in 2017. No business model for it. After failing to search.
Microsoft said it was looking to acquire TickTock’s businesses in the United States, Canada, Australia and New Zealand, and was also considering acquiring all of TickTock’s operations technically.
Tiktok, run by former Disney executive Kevin Mayer, says it has 100 million U.S. users and employs more than a thousand people in the state. Tiktok says it does not properly manage any servers in China, although its app shares code with Dwayne, ByteDance’s sister video app in the Chinese market.
The Trump administration’s actions against WeChat, owned by Tiktok and Tencent, are part of a growing economic battle between the United States and China.
Tickets have been banned due to concerns that other government agencies and businesses may demand access to users’ data from TickTock.
In June, India banned the app and dozens of other Chinese mobile apps in June amid border clashes between the two countries. In the United States, presidential campaigns by the Department of Homeland Security, the TSA, the U.S. military, and Joe Biden are among the organizations that have already banned the use of tic tac toe.
Trump said last week that the U.S. government should be paid “a lot of money” under any tic-tac-toe sale, because we’re making the deal possible. Experts say it is illegal for a US president to make any payments as part of such a transaction.