The purchase may happen as soon as September 15th
Wednesday, August 5, 2020 by Tatiora | Discussion: Life, the Universe and Everything
In a statement issued on Sunday, Microsoft posted on its corporate blog saying that it will continue discussions for a potential TikTok purchase in the United States.
For the unfamiliar, TikTok is a video-sharing and social networking service based out of Beijing, China founded in 2012. TikTok allows users to create short dance, lip-sync, comedy, and talent videos and share them with thousands of other users on the platform. The app currently holds worldwide popularity, and TikTok has global offices in Dublin, Los Angeles, Mumbai, Singapore, and several other cities.
According to the blog, Microsoft CEO Satya Nadella had a direct conversation with the president regarding the purchase and all of the safety and privacy concerns associated with the platform. Following the discussion, Microsoft says that it appreciates the importance of the concerns and is "committed to acquiring TikTok subject to a complete security review," along with promising some proper economic benefits for the United States.
Both Microsoft and ByteDance (TikTok's parent company) have provided notice to the Committee on Foreign Investment in the United States (CFIUS) on their intent to explore a preliminary proposal regarding the sale. The purchase would also grant Microsoft control of the service in other areas, including Canada, Australia, and New Zealand. Microsoft has also said that it may invite other American investors to participate in the purchase on a minority basis.
The new structure of the platform would add "world-class security, privacy, and digital safety protections." Microsoft also assures that the new model would ensure transparency to users and appropriate security oversight by governments in the countries they manage the platform in.
Microsoft concludes the blog by stating that the discussions are only preliminary and that "there can be no assurance that a transaction which involves Microsoft will proceed." The company has no intentions of providing any additional updates before there's a definitive outcome of the discussions.
Do you use TikTok? If not, if Microsoft purchases it, do you think you might start?
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