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Microsoft Moving to Purchase TikTok
Following a weekend of back-and-forth talks, Microsoft appears to be pursuing a deal to purchase TikTok.
TikTok has found itself in hot water, with the Trump administration threatening to ban the social media app. This comes on the heels of numerous controversies surrounding the app’s privacy and security. It has been sued over claims it uploaded user videos to servers in China without permission. Numerous government, military and business organizations have banned the app, and the company has been accused of violating child privacy. In a rare rebuke within the tech industry, at least one CEO labeled it “fundamentally parasitic.”
The end result has been the Trump administration first threatening, and then promising to ban the app in the US. At the last minute, however, Microsoft floated the possibility of buying the beleaguered social media company. After initial opposition from the administration, it appears a meeting between Trump and Microsoft CEO Satya Nadella has opened the way for talks to continue.
”Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States,” says the company blog.
”Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.
”Microsoft will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President.”
Microsoft Moving to Purchase TikTok
Matt Milano
from WebProNews https://ift.tt/3k8KyQf
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