Trump Gets His Revenge on Tik Tok But Wants More
Trump made good on his threat to ban Tik Tok, by issuing an executive order that prohibits around 80 million Americans from using the music video-sharing app. Trump’s EO includes WeChat, a social media messaging tool w/ electronic payment features.
While the reason behind Trump’s ban against WeChat are allegations that the Chinese-developed app has indications of being a spyware, the ban on TikTok is perceived by many as a political retaliation. Apparently, The Donald, who is well-known for taking retaliatory actions, is still not over the Tulsa Rally sting perpetuated by nearly a million young American Tik Tok users.
Perhaps afraid that there could be a repeat of the fake show of support that caused Trump and his campaign team a great deal of embarrassment, Trump used his presidential powers to order the site’s shutdown. Based on the recently signed EO, Tik Tok and WeChat have up to September 20 to wind up their business affairs in the U.S.
Tik Tok owner ByteDance’s first response was indignation, whilst saying that the company intends to pursue all remedies available, including legal actions. However, Microsoft expressed interest in buying Tik Tok from ByteDance, to which Trump readily agreed as a condition to stave off the prohibition against Tik Tok’s operation in the U.S.
However, true to his Karen-like disposition, Trump is now asserting that the U.S. government should receive some form of compensation from ByteDance, for making the sale possible instead of just getting banished out of American jurisdiction.
Microsoft In Talks with ByteDance Over Tik Tok Acquisition
TikTok is a creative, music-video sharing app that enables users to share their new music discoveries or favorites, by lip-synching the song, or by dancing with the music. Byte Dance on the other hand makes money from Tik Tok, by way of advertising deals.
Inasmsuchas Tik Tok has more than 80 million users in the U.S. alone, Microsoft is currently negotiating an acquisition agreement with ByteDance. However, the price currently being negotiated is reportedly between $10 billion and $30 billion but only for the Chinese company’s Tik Tok operations in Australia, Canada, New Zealand and of course the U.S.
Should the deal push through within 45 days, Tik Tok will likely split into two segments MS-Tik Tok under Microsoft and BD-Tik .Tok under ByteDance.