Controversy and TikTok go hand in hand, especially this past week when President Trump threatened to ban the video-sharing social network in the U.S. on September 15.
If TikTok wants to continue to operate in the U.S., parent company ByteDance must find a buyer for the short video sharing platform. Much to the delight of TikTokers in the U.S., Microsoft is offering to acquire the service.
Speculation about Microsoft purchasing the service started on Friday. On Sunday, the technology giant confirmed that it is in talks with ByteDance to purchase TikTok’s operations in the U.S., Canada, Australia, and New Zealand. Other investors also may be invited to join and buy a minority stake in the deal.
“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
President Trump and U.S. officials were concerned that the Chinese government could access TikTok’s stored information. These security concerns arose last year as the platform continued to explode among teens and young adults. With Microsoft on board, the decision to purchase TikTok will remove any concerns the U.S. government has about the security of the data stored on Chinese servers.
TikTok was born when Beijing-based ByteDance purchased Musical.ly, a U.S.-based company in 2017. After completing the $1 billion deal, ByteDance rebranded the service and launched it as TikTok. The rest is history, with the short video sharing platform becoming the social media platform of choice for the younger generation.