Microsoft's U.S. TikTok purchase on hold after Trump's latest statement

For weeks now, the Whitehouse has voiced the opinion that the Chinese owned App TikTok’s U.S. Bytedance should be American owned.

Trump has concerns that the Chinese App with approximately 175,000,000 user in the U.S. could be used to gather data on U.S. citizens

Now that Trump says he will ban TikTok from the U.S. A statement yesterday from the Whitehouse now backs Trump by saying “The administration has very serious national security concerns over TikTok. We continue to evaluate future policy.”

Bytedance and Microsoft have now suspended negotiations following Trumps announcement that he would not support the a sale of the App and would rather ban the App from the U.S.

Zhang Yiming, founder of Bytedance has offered to generate 10,000 new jobs in the U.S. over the following three years, and sell the majority of his stake in the company aswell, retaining a minority stake should the deal go through.

Microsoft had believed that a general deal could be on the table as soon as Monday, prior to Trumps outburst. Both sides of the deal now await the outcome of Trump’s proposed ban on TikTok.

Combined downloads from Apple App Store and Google Play in 2019 was 738,000,000. This is the highest number of downloads second only to WhatsApp for the year. It is available in over 150 countries worldwide.

In a survey by Influencer Marketing Hub, TikTok has the highest follower engagement, more than Instagram and Twitter.


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