What does the Tiktok company say?
Private equity company Silver Lake, a major Twitter shareholder, is said to be interested in helping to fund a deal.
Twitter, which owned a predecessor to TikTok called Vine that it acquired in 2012 for $30 million before closing the service in 2016, is said to have held preliminary talks with ByteDance over a possible acquisition. TikTok's head of corporate communications Josh Gartner said, "We don't comment on market rumors".
President Donald Trump had been threatening to ban the app in the US for weeks and finally followed through on Thursday with an executive order that would, for all intents and purposes, ban TikTok within 45 days if it does not find new owners. The administration is forcing the video-sharing app to cut its ties to its Beijing headquarters. With its roots in China, where it's known as Douyin, the app has arguably become the largest challenger to US social media tech companies in years.
He claims the apps "capture vast swaths of information from its users" that may allow "the Chinese Communist Party access to Americans' personal and proprietary information".
The Journal noted that Microsoft remains the front-runner for TikTok's business in the US, Australia, Canada and New Zealand, and that a potential tie-up with Twitter would just be for TikTok's North American business. The decision came after a dialog between the firm's CEO Satya Nadella and Trump. However TikTok US Basic Supervisor Vanessa Pappas stated in a video August 1st that "we're not planning on going wherever" and the corporate is "right here for the long term". This process was later verified by Microsoft. "To the extent that any such data is now stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred".
He has yet to clarify how it will work and if he has the authority to demand payment to the government. Until now, the fact that only Microsoft was on the agenda regarding the purchase of TikTok has attracted attention.