Donald Trump is preparing to issue an order to Bytens to sell his ownership interest in the ticket, according to multiple reports – otherwise, he has threatened to ban the short-form video app in the United States due to security concerns over relations with China.
At the same time, Microsoft is currently negotiating as the first to buy Tiktok Report By Fox Business, cites anonymous sources. TickTock, which allows users to record, share and watch short-form lip-sync clips and other videos, has grown in popularity over the past two years, especially among General Z users.
As President of the United States, Trump has previously issued three orders to close M&A agreements involving foreign parties through the Intergovernmental Panel on Foreign Investment (CFIUS). According to the Wall Street Journal, the lawsuits involve blocking a private equity firm linked to the Chinese government to buy U.S.-based chip maker Lattis Semiconductor; Without Singapore-based Broadcom from Qualcomm Acquisitions; And China-based Beijing has ordered Shiji Information Technology to sell its proprietary software company, Stan Touche.
It has already been made public that the Trump administration is considering banning TickTock over security concerns related to Chinese ownership of TickTock, as Secretary of State Mike Pompeo said earlier this month. Tiktok said it never shared the data with Chinese authorities “if asked we will not do it.”
In a statement DiversityA TickTock representative said: “Although we do not comment on rumors or speculation, we are confident of TickTock’s long-term success. Millions of people, including our community of creators and artists who make a living from the platform, come to Ticket for entertainment and connection. We are inspired by their passion and creativity and we are committed to protecting their privacy and protection as we continue to work to bring joy to the families and meaningful careers of those we create on our platform. “
Microsoft declined to comment.
A deal for Microsoft TickTock’s U.S. operations will “solve security issues with this app” and allow the software to instantly get the giant into social media, writes Dan Ives, an analyst at Beedbusch Security.
“For Microsoft, this would be a big bet for the consumer social media space, which the company has been away from for the past decade,” Ives wrote in a research note on Friday. TickTock’s acquisition or strategic investment is “Microsoft will put its hat in the ring and try to compete with other technology giants like Facebook as a new technology for consumer business for the next decade.”
According to the research firm Sensor Tower, the United States is the largest market for TickTock in terms of recent application installations (excluding third-party Android marketplaces in China). Since July to date, Tiktok has been installed 633.2 million times worldwide from Apple’s App Store and Google Play, accounting for 6.1 million or about 10% of the US.