TikTok fights to find buyer as Microsoft ‘pauses talks’ after Trump declared he does NOT want US firm to takeover – The Sun
TALKS to buy TikTok, the Chinese-owned app, have been put on hold by Microsoft after Trump said he would prefer to ban the app and wouldn't support a US sale.
TikTok's parent company ByteDance has paused negotiations with Microsoft Corp, the Wall Street Journal reported, until they can get clarity on the White House's official stance.
Negotiations are thought to be at an early stage and come as the US considers a ban of the Chinese-owned app over personal data concerns.
TikTok lets users upload and share short videos.
It recently backed away from making the UK its global headquarters amid rising tensions between Britain and China.
It was the world’s second most downloaded app in the third quarter of 2019, with an estimated 176 million downloads.
It has exploded in popularity in lockdown.
The popular social network app is most popular among children under 16.
ByteDance previously agreed to completely exit the US operations of TikTok completely in a bid to save a deal with the White House, after Donald Trump announced a potential ban of the Chinese-owned platform.
ByteDance was previously seeking to keep minority stake in the US business of TikTok, which the White House rejected, now the China based company said it would let Microsoft take full control over TikTok in the US.
According to Reuters, under ByteDance’s new proposal Microsoft will be in charge of protecting all US user data.
The plan allows for another US company other than Microsoft to take over TikTok in the United States.
On Saturday, TikTok shared a video on Twitter telling it's users "we're not planning going anywhere."
“We’ve heard your outpouring of support and we want to say thank you. We’re not planning on going anywhere," the company said in a video posted on Twitter.
The news from ByteDance comes on the heels of Trump’s announcement to ban TikTok in the US.
“As far as TikTok is concerned, we’re banning them from the United States,” the president told reporters on Friday.
Trump said he could use emergency economic powers or an executive order to enforce the action.
“I have that authority,” he said aboard the presidential plane.
After the president’s announcement several TikTok stars took to the video-sharing platform to bid their farewell to their followers.
Addison Rae, a social media personality and dancer, who has accumulated 53million followers on TikTok voiced her reaction to the news on Twitter, simply saying, “bitter.”
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