As of recently, the news broke after President Trump announced a ban on ByteDance-owned TikTok in the U.S. Now, the President and the Microsoft CEO Satya Nadella have looked to come to some form of agreement, for Microsoft is in the talks with ByteDance to acquire TikTok, as written in Microsoft’s blog post.
Microsoft’s purchase of TikTok could easily run into billions of dollars and push Microsoft as Facebook‘s newest competitor. As part of the deal that should take place “in a matter of weeks,” Microsoft and ByteDance are exploring a preliminary proposal of purchasing TikTok in Canada, Australia, New Zealand, and of course the U.S. “During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President,” the post noted.
Reports are noting that Trump’s administration is pushing for a “complete separation” from the original Beijing-based company if a purchase is to happen, which are quickly after confirmed by Microsoft’s statement it will, upon the purchase, complete a full security review and provide proper economic benefits to the U.S. including the Treasury. The tech company will also “ensure that all private data of TikTok’s American users are transferred to and remains in the United States.”