Microsoft reportedly in talks to buy TikTok

Microsoft reportedly in talks to buy TikTok 1
The big picture: As the geopolitical pressure ratchets up on TikTok and its parent company ByteDance, there’s now talks of President Trump moving to force ByteDance to divest itself of the popular social app. More interestingly, Microsoft is reportedly kicking the tires on buying it from ByteDance. The Redmond software giant doesn’t have a major presence in social media outside of the professional network LinkedIn. TikTok could give it one.

Multiple sources are suggesting that Microsoft is in talks to buy TikTok, the popular video app owned by Chinese tech company ByteDance. A potential acquisition from Microsoft seems to stem from reports that President Trump would order ByteDance to sell its US operations.

TikTok evolved from ByteDance’s Douyin app which was primarily aimed at the Chinese market, before merging with the app which brought TikTok to a worldwide audience. Since then the app has exploded in popularity and has subsequently attracted the ireful gaze of US lawmakers and regulators.

As TikTok has risen in popularity, the app has been increasingly put under the microscope over concerns for privacy and national security. Regarding privacy, the app has already been caught copying iOS’ clipboard contents, and Reddit CEO Steve Huffman criticized the app, calling it “fundamentally parasitic.” TikTok also has a history of controversial data collection practices.

TikTok has also been caught in the middle of the back and forth between the US and China, and over the alleged ties that ByteDance has to the Chinese government. TikTok scrapes a shocking amount of data on its users, and under the China Internet Security Law, ByteDance would have to surrender that data if the Chinese government requested it. However, TikTok maintains that its servers aren’t based in China, and as such, aren’t subject to such laws.

TikTok is under review by the Committee on Foreign Investment in the United States (CFIUS), and there are rumors that ByteDance could be added to the Bureau of Industry and Security (BIS) Entity List. That’s the same list that Huawei found itself on, and would mean ByteDance would be cut off from American IP and technology.

Microsoft acquiring TikTok would likely go a long way in alleviating western fears of privacy and national security. ByteDance has made its own attempts at lessening these concerns, including appointing former Disney executive, Kevin Mayer, as its CEO and even floating the idea of American investment companies buying back the company from ByteDance.

Given its sheer popularity, especially with young crowds, TikTok is likely to continue in a controversial spotlight unless something big happens. TikTok has been banned by the Navy, Army, and the TSA. Joe Biden’s presidential campaign staff was recently forbidden from using the app on work and personal devices, and the list could go on and on.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin49,260 0.36 % 0.23 % 9.67 %
Ethereum4,191.8 0.97 % 2.20 % 2.64 %
Binance Coin555.21 0.69 % 2.00 % 7.17 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana196.33 3.67 % 1.95 % 2.18 %
Cardano1.370 1.23 % 3.06 % 10.86 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
XRP0.8015 0.55 % 4.96 % 14.83 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Terra68.04 0.86 % 10.09 % 56.59 %

Bitcoin (BTC) $ 49,392.00
Ethereum (ETH) $ 4,189.35
Binance Coin (BNB) $ 554.29
Tether (USDT) $ 1.00
Solana (SOL) $ 195.29
Cardano (ADA) $ 1.37
USD Coin (USDC) $ 1.00
XRP (XRP) $ 0.802328
Polkadot (DOT) $ 28.34
Terra (LUNA) $ 68.50