Microsoft close to buying TikTok after key concession to White House

Microsoft Is Said to Be in Talks to Buy Tik Tok in U.S

Microsoft in talks to buy TikTok's US operations from ByteDance

The app has been downloaded more than 165 million times on app stores, according to Sensor Tower data.

President Donald Trump said he planned to taking action as soon as Saturday to bank TikTok, a popular Chinese-owned social media app that has experienced storms of national security and censorship concerns in recent months. I also think there will be a US-based TikTok-type service one way or another.

Launched in 2017, TikTok is popular among teens and has been growing in popularity amid coronavirus shutdowns. In a bid to escape the ban, the platform's Beijing-based parent company ByteDance is reportedly looking to sell its U.S. operations, possibly in a deal with Microsoft.

It also remains uncertain exactly what Trump's "ban" threat entails, or under what legal argument he'd block a Microsoft acquisition.

Media reports circulated earlier Friday saying that Trump would require the U.S. operations of the app be divested from its Chinese parent firm ByteDance, but the president announced a ban.

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Though it is not clear what authority, legal challenges and enforcement method Trump has to ban TikTok, the move is said to come at a time of heightened tensions between the U.S. and China. TikTok belongs to the Chinese group ByteDance and has almost one billion users worldwide. "We are looking at a lot of alternatives with respect to TikTok", Trump's voice can be heard saying as Sarah's mouth moves and her hair blows up in the air in the amusing TikTok video, which can be seen below. "But we are looking at a lot of alternatives with respect to TikTok". For example, earlier this year the Committee on Foreign Investment in the United States (CFIUS) forced Chinese gaming company Beijing Kunlun Tech Co Ltd to sell the Grindr dating app for $620 million.

Some critics believe TikTok, the Chinese-owned online video app, could be sharing information with the Chinese government and facilitating espionage. The company has hired an American CEO, a former top Disney executive, in an attempt to distance itself from its Chinese ownership. India last month banned dozens of Chinese apps, including TikTok, citing privacy concerns, amid tensions between the countries.

Treasury Secretary Steve Mnuchin said earlier this week that the US government's Committee on Foreign Investment in the United States, an interagency group led by the Treasury Department, would be looking into TikTok. We're maybe banning TikTok.

The ad market research company eMarketer has estimated LinkedIn's ad revenue at about $2 billion annually in the United States alone. It's unclear who this other United States company would be, or how the operation would be structured.

"I think a total spin-off or USA tech firm acquisition is the likely scenario here so it can keep operating", he added.

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