Microsoft is not the only suitor in town to buy the controversial app TikTok owned by the Chinese company ByteDance.
TikTok is worth a lot to potential buyers because of the data. It also could be attractive for companies feeling competition from Facebook, Twitter, and LinkedIn. It’s a great Segway for companies wanting to add a social business unit.
TikTok has exploded in controversy as President Donald Trump has taken aim at China again, signing a pair of executive orders targeting not only TikTok but also widely used WeChat. The action references national security concerns and (starting in 45 days) bars any transactions with the apps’ China-based owners – ByteDance (BDNCE) and Tencent Holdings (OTCPK:TCEHY) – by any person or involving any property subject to the jurisdiction of the U.S. While TikTok said it will pursue all remedies available, including American courts, it also faces a Sept. 15 deadline before its services are banned in the U.S.
The deal may make sense for Larry Ellison, President and CEO of Oracle because he is friends with President Donald Trump.
Stay tuned to see who ByteDance chooses as a buyer before any pending litigation should that occur.
Image by Pixaline from Pixabay
This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.