TikTok may find a new owner as Microsoft is seeking to buy the app following reports of a potential ban in America.
The app of Gen Z, TikTok, is currently in danger following the news of a potential ban in America. These concerns are not exclusive to the US where Scott Morrison has also declared the app is under close watch. Despite no conclusive evidence to prove these concerns, the app is under peril due to these unsubstantiated claims.
However, TikTok fanatics can breathe a sigh of relief as the American corporation, Microsoft, are currently in talks in buying the service of the prolific application from ByteDance. By acquiring TikTok, Microsoft would oversee the platform in overseas countries excluding China. ByteDance would still continue to oversee Douyin, the Chinese equivalent of TikTok.
Trump has stated that any company who acquires TikTok must pay a “very substantial” fee to the US Treasury. Microsoft has been given the deadline of September 15th to finalise the deal. Reportedly, Microsoft has included an agreement to separate ByteDance from TikTok in order to address the fears of Chinese ownership. The shifting in ownership is a complicated affair and not a simple financial exchange. As the stakeholders extend to government groups, it is important for Microsoft to tread carefully with the agreement.
TikTok is not the first Chinese application to be banned from a western audience. Huawei, a giant telecommunication organisation, has also recently faced racial issues as their equipment was banned from the UK 5G network. This has exacerbated the rising tensions between China and western countries as the Chinese government has lashed out due to the discriminatory, unjustified ban. The Chinese government has lashed out citing these bans as discriminatory and based on untruthful speculations.
For now, there is no certainty if the deal will go through. If it were to go through, this would come at the relief of millions of users who are nervously waiting for the decision.
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