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.