TikTok, Twitter held talks about sale of popular video app, says report

Angela Lang/CNET

Add Twitter to TikTok’s record of potential dance companions. The Wall Avenue Journal reported Saturday that the social community has had preliminary talks with TikTok about shopping for the US operations of the massively in style, Chinese language-owned video app.

On Thursday, US President Donald Trump issued an executive order that would effectively ban TikTok within the US. However since that order does not kick in until subsequent month, it leaves open the prospect of a sale to a US-based firm.

Microsoft, Apple, Google and Fb have all been name-checked within the press as potential purchasers, and Microsoft has acknowledged it’s pursuing a deal.

Trump and others say TikTok is a nationwide safety menace as a result of it collects US customers’ information and its proprietor, ByteDance, is beholden to China’s communist authorities. ByteDance has denied that the app presents any such menace.

It is unclear if Twitter will really pursue a deal, the Journal stated, citing nameless sources. Microsoft is farther alongside in negotiations, the information outlet stated, and being smaller, Twitter would have a harder time elevating sufficient cash to purchase the app.

A Microsoft-TikTok deal could be worth between $10 billion and $30 billion, relying on how a lot of TikTok the tech large agreed to amass, CNBC has reported. Twitter’s market capitalization is roughly $29 billion and Microsoft’s is over $1.6 trillion, the Journal famous.

However Twitter’s smaller measurement could possibly be a bonus, the social media firm has reasoned, as a result of it would not be topic to the identical degree of antitrust scrutiny, the Journal stated.

A wedding with TikTok would not be Twitter’s first foray into quick movies. In 2012, the corporate bought startup Vine for $30 million, solely to shut down Vine in 2016.

Each Twitter and TikTok declined to touch upon the Journal report.

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