The Beijing based conglomerate, BytedDance has offered to sell TikTok’s US operations as a deal to prevent the US ban of the app, after President Trump announced his plan to block to social media app.
ByteDance has offered to completely divest itself from the US operations, as per new terms of their offer. It would mean that the company would exit completely and turn over 100 percent control of the app’s US wing to Microsoft. The offer seems to be a concession for the company, considering that they were hoping to keep a minority stake in the local operations.
President Trump intent on the TikTok ban, in no mood, to negotiate the issue
As per the latest update, the White House seems to be cool with the issue. President Donald Trump said that he is still intent on banning the app and did not want to negotiate on the issue. He said that they are not an M&A (mergers and acquisitions) country and due to security concerns, the White House will be banning TikTok from the United States.
US-based tech giants like Facebook, Amazon, and Google have raised security concerns over the handling of data, but particularly TikTok has been under scrutiny over Chinese ownership. Several members of the Trump administration have said that they are not comfortable with the company’s access to US user data.
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Despite facing opposition, TikTok takes a defiant stance in public
On Saturday morning, the company’s US General Manager Vanessa Pappas said in his statement that they were not planning to go anywhere.
She mentioned that TikTok is home to creators and artists, giving them a platform to express themselves and connect across different backgrounds. She also mentioned that they are proud of all the various communities that call TikTok their home. She also stated that they are planning to create 10,00 jobs in the United States over the next three years.
TikTok users mourn the loss of the social media app
Given this ban, many TikTok users are mourning their potential loss and have posted goodbye videos, with considering the transition to other apps. Facebook plans to launch a similar shot form video app, Instagram Reels, in the US later this month. Also, another US-based competitor, “ DanceFight” has hit the app store on Saturday.