According to several media outlets on Friday, Microsoft had talks to purchase the TikTok video-sharing smartphone device from Chinese developer ByteDance citing unidentified sources.
The acquisition of TikTok by Microsoft can put them on top of the charts in the market. It would take Microsoft to a place where they had lapsed in recent years.
In 2016, Microsoft purchased Linkedin for $27 Billion. Also in 2014, the popular Asian game known as Majang was bought for 2.5 Billion.
TikTok was officially launched in 2017, which was just a few years ago but had its popularity spring up in 2020 due to the covid 19 pandemic.
It has become one of the most popular social media platforms. The ByteDance company has joined the Facebook and snap-chat and are seemingly on the same level.
According to a report by Reuters, investors looking to take over TikTok placed it’s value at up to $50 Billion.
The progress the app has been receiving has made it find it’s way into the bad book of the Trump administration, where it has been greatly criticized.
“We’re looking at TikTok, we may be banning TikTok, we may be doing some other things, there’s a couple of options but a lot of things are happening, we’ll see what happens,” Trump mentioned on Friday. “We are looking at a lot of alternatives with respect to TikTok.”
“While we do not comment on rumors or speculation, we are confident in the long-term success of TikTok,” According to the statement TikTok made on Friday. They also went further by saying, “Hundreds of millions of people come to TikTok for entertainment and connection, including our community of creators and artists who are building livelihoods from the platform. We’re motivated by their passion and creativity, and committed to protecting their privacy and safety as we continue working to bring joy to families and meaningful careers to those who create on our platform.”