According to a report on Saturday, TikTok's owner ByteDance has agreed to divest U.S. operations of TikTok, leaving Microsoft to take over operations of the social media platform if the proposed deal went forward
confirmed an earlier Fox Business story that the Washington-based tech giant was in talks to buy TikTok, which with over 2 billion global downloads has become one of the fastest-growing social media platforms., would involve the U.S. investors in TikTok's owner, ByteDance, acquiring the app.
A spokeswoman for TikTok declined to comment, adding via a statement, "We are confident in the long-term success of TikTok. 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.
TikTok is owned by Beijing-based conglomerate ByteDance, and its Chinese ties have sparked growing concern over how it handles user data. Earlier in the day, reported that President Donald Trump was preparing to order ByteDance to divest its U.S. TikTok business. in Saturday, ByteDance has agreed to divest U.S. operations of TikTok. If the proposed deal went forward, Microsoft would take over operations of TikTok in the U.S. The story noted that the White House has not yet commented to whether it will accept ByteDance's offer.. He made the announcement to reporters Friday on Air Force One as he returned from Florida.
TikTok has attempted to allay concerns by storing data from American users in the U.S. and Singapore. Earlier this year, it appointed Disney veteranLaunched in China in 2016 as Douyin, TikTok came to the U.S. in 2018 after its acquisition of competitor Musical.ly. Since then, its growth has exploded. Users, many of them young, socially savvy people who use Instagram and Snapchat, are attracted to its infinite scroll of personalized videos and the ease of shooting and posting video clips.
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