Twitter Shows Interest In Buying TikTok

Ruben Fields
August 11, 2020

Trump's suspicion may be justified, there are legitimate Chinese state surveillance concerns with the app's Beijing-based parent company ByteDance.

The acquisition will mean TikTok will be able to continue operating in the US but directly under a USA -based company.

TikTok is facing a looming ban in the U.S. The value of such a deal also remains to be seen. "A deal would involve TikTok's US operations, the people said".

Twitter is significantly smaller than Microsoft, which is perhaps the reason for only looking at the U.S. in any potential deal: the company has a market cap of about $29 billion, compared to Microsoft's $1.6 trillion.

Nonetheless, industry analysts expressed sheer doubts over Twitter Inc.'s ability to put together a funding for a potential takeover deal for the Chinese small video sharing app which claimed to have 100 million United States subscribers later last month. The lawsuit will argue that the president's action is unconstitutional because it failed to give the company a chance to respond and that the USA government's national-security justification for the order is baseless.

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The man has faced criminal charges four times previously, including burglary, child endangerment and domestic battery, Brown said. The suspect suffered at least one wound from the exchange and was taken to University of Chicago Medical Center for treatment.

Aside from Microsoft, Twitter has also approached the Chinese-owned video-sharing app for a deal to acquire its USA operations, a report reveals.

Twitter, which owned a predecessor to TikTok called Vine that it acquired in 2012 for $30 million before closing the service in 2016, is said to have held preliminary talks with ByteDance over a possible acquisition.

It is unclear whether Twitter is equipped to navigate the political minefield that such a deal would require, or whether it could even afford TikTok. But it said that Twitter was likely to face less antitrust scrutiny than Microsoft due to its size comparable to the US software giant.

The move turns up the pressure on negotiations over the popular video app's future through a potential sale. On top of that, Saturday's Wall Street Journal report has also quoted two of the sources as saying that the news over Twitter Inc. The lawsuit will be filed in the US District Court for the Southern District of California.

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