What lies ahead with Tiktok and Microsoft Acquisition?

Being a subsidiary of Beijing-based Company ByteDance, Tiktok is facing the heat of getting banned from the US, although Microsoft was in discussion for potential Tiktok purchases in the US, and in its statement, it also hinted to invite American investors to participate on a minority basis.

But the talk was paused as President Trump voiced his disagreement to any further trade. As reported by the Wall Street Journal. Accordingly both the parties are now trying to reach for a grip on where exactly the Trump administration stands and does it make any concrete decision against any future scope for the Chinese-based video sharing app.

Image source Google

Reported from Air Force One on Friday, President Trump, clearly stated that he is planning to ban Tiktok from the US is moving forward to sign a document to enforce this order, which will be in either in a form of executive order or emergency economic powers.

Ensuring that the ban should take an immediate effect, President Trump said he will sign the document by tomorrow.

According to the Wall Street Journal, Microsoft was already in talks with ByteDance, prior to the president’s remark. The president’s remark led Tiktok, to agree to create 10,000 jobs in the US, but whether this will still holds any platform after the ban, is still unclear. The WSJ also stated that a deal was possible by as early as Monday.

In another report from the Reuters, on Saturday, ByteDance agreed to sell its American operations to avert the ban of Tiktok in the US and accordingly Microsoft will be handled the entire operation of the US, and Microsoft will be in charge of safe guarding the US user data. The plan is involve a third American company to takeover Tiktok in the US.

Previously on July 7th, Secretary of State Mike Pompeo had threaten to ban the Chinese-based video sharing app, and although after last days’ ban from the president its yet to corroborate specific details that he has planned to take action. Early on Saturday Vanessa Pappas Tiktok US General Manager cleared that do not have any plan to move out of US right now.

Having potential ties with the Chinese Government, Tiktok has already been scrutinized for its privacy practices. Apart from Tiktok, Pompeohas compared it with other two Chinese companies Huawei and ZTE which also posses similar threat to the US national security.

In a protest to such disclaimer, TikTok users and K-pop fans urge their followers to buy President Trump’s rally in Tulsa last month but not to show up and keep empty seats, which in turn made the campaign to have a reduced headcount as was expected.

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