Microsoft to Buy TikTok by 15 September
Microsoft has confirmed the talks of buying TikTok this Sunday - a major deal that will grant Microsoft a competitive advantage in consumer technology, flaring up its competition with the social media giants of the industry - Facebook and Snap.
The details of the deal have not been disclosed just yet, but Microsoft had stated they are looking to offer other American investors to get involved in the acquisition too.
“This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections. The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries.” Microsoft representatives commented.
Donald Trump, who was initially opposed to this buy, has now agreed to the project if a deal is secured in 45 days - a decision which was achieved as a result of pressure from his advisers and members of the Republican party. His earlier idea of banning TikTok would indeed alienate a large share of young users ahead of the US presidential elections.
Under the currently proposed deal, Microsoft said it would take over TikTok's operations in the United States, Canada, Australia and New Zealand, which would ensure that all private data of TikTok's American users will be transferred to and remain in the US.
As good as all this may seem, there is concern of a complication of Microsoft’s relationship with Facebook, as a result of buying ByteDance’s TikTok product. After all, ByteDance is a major Facebook competitor. Generally, since Microsoft has invested $240 million in Facebook in 2007, the two companies have worked side by side. Even this June, when Microsoft decided to close its Mixer video game service, it advised users to switch to Facebook’s competing product.
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