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Microsoft to shell out as much as $30 Billion to Aquire Tik Tok

Microsoft has made it official that they will purchase the U.S. operations of the social media platform Tik Tok to increase data privacy while still allowing users to enjoy all of its fun features. This will halt an executive order sign by President Trump which would formally ban the app from the U.S.

In a statement about the announcement, an official Microsoft representative said the following: “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.”

What it means 

This announcement comes off the heels of a recent sit down between Microsoft’s chief executive and president Donald Trump. While the announcement from Microsoft’s chief executive has many believing that White House Officials are open to allowing U.S. users to partake in the TikTok platform, there are contradictory points being thrown from both camps as Donald Trump said on Friday that he would completely ban TikTok from being available in the U.S. 

He also went on to state that he would not approve Microsoft’s acquisition of the Chinese based vide sharing platform. That was before president Trump’s meeting with Microsoft chief executive Satya Nadella on Sunday, now the waters seem a lot calmer and things may be looking good going forward. Microsoft and president Trump aren’t the only one weighing in on the possibility of TikTok’s U.S. operations being divested from it’s parent organization. 

In a statement sent to ByteDance employees on Monday that also reached the desks over at NBC, ByteDance CEO Zhang Yiming talked about his disapproval of the idea that he would have to give up his entire stake in his U.S. operations. However, Zhang Yiming also said that the company was quote “preliminary discussions with a technology company” to discuss how they could continue offering TikTok services in the United States. 

What To Expect 

Yiming continued his statement by saying “We do not yet know the exact details of what our end solution will be.” All of this hassle stems from the U.S. government’s concerns over TikTok’s Chinese ownership, which has many officials concerned that Beijing could possibly use the social media platform to gain unauthorized access to sensitive data of U.S. citizens. TikTok has stated that it is a completely independent company who is not influenced by Chinese politics. While we wait to see what unfolds in the upcoming weeks surrounding this deal, let’s keep our fingers crossed that will TikTok will still be available to U.S. users a few months from now.

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