After India, USA to ban Tiktok, whose Chinese owner ByteDance faces deadly pressure from the US government to sell the popular video sharing app or risk being ostracize from the country. India’s government has already banned TikTok and 58 other Chinese-owned apps on 29th June 2020.
American multinational technology company, Microsoft in talks to acquire Tiktok.
Who will be the future owner Tiktok? Is a change in the ownership of Tiktok is coming? If President Donald Trump has anything, say about it, yes!
The reports published as President Trump told reports on Friday that he was considering “a couple of options” to address TikTok, including a ban in the United States.
The Financial Times reported that the white house considered placing Chinese company ByteDance to put in the entity list. Which would effectively prevent it from doing business with US companies.
ByteDance, which is the parent company is in talks for months with Walmart and Oracle about shifting TikTok’s US assets into their hands. ByteDance a one-week extension to the previous 27 November deadline by The Committee on Foreign Investment in the US (CFIUS).
Why is the US concerned about TikTok?
TikTok has come under Radar from the Trump Administration over data privacy concern and national security. Trump administration claiming that this App is subject to influence from Chinese government & hence USA to ban Tiktok.
USA government officials have cracked down on Chinese companies in recent years including telecom company Huawei. US officials raised concern that Chinese companies may typically share their data with Chinese government. Huawei and TikTok both the private companies persistently deny this.
TikTok published a official statement on Friday stating that “While we do not comment on rumors or speculation, we are confident in the long-term success of TikTok.”
The company inform that it would not give US data access to Chinese government even if asked.
TikTok application featured short videos that become favorite among youngsters and its also known for its light-hearted feel. Some investors of ByteDance are valuing TikTok about $50 billion, According to Reuters. The time estimates that TikTok worth is $100 Billion.
According to Analyst, Microsoft could use TikTok to deep dive into a younger demographic. Microsoft main focus on business technology market and built a highly successful consumer operation around its Xbox gaming platform.
Brent Thill, an analyst at Jefferies inform that Microsoft want to grow up in a younger audience.
He said that high demanded application TikTok have eaten kids time to play games. It could be a complementary service for Microsoft to explore.
Youssef Squali, an analyst at SunTrust inform that its a potential opportunity for Microsoft to expand into the new market. However, if Microsoft purchase TikTok, it can complete other social media companies like Facebook, Twitter, etc.
What is TikTok?
TikTok is a Chinese video sharing social networking application owned by Beijing-based internet technology company, ByteDance. This application was founded in 2012 by Zhang Yiming.
What is the use of tiktok
TikTok is used to create short dance video, lip-sync, talent video & comedy videos.
Why TikTok is so popular?
Main reason, this application is easier to use and edit videos. Users can easily upload contents as compared to other applications such as Instagram or Snapchat.
Though, the CEO of TikTok, Kevin Mayer, inform in a post this week that, “We are not political & we do not accept political advertising. Our main motive is to remain vibrant, dynamic platform for everyone to enjoy.”
Must Read at