Tuesday, January 18, 2022
Home Industry ByteDance Rejects Microsoft’s TikTok Bid

ByteDance Rejects Microsoft’s TikTok Bid

Microsoft has confirmed that TikTok’s parent company, ByteDance, has rejected its bid to acquire the video-sharing platform – the acquisition would allow Microsoft to own and operate the TikTok service in the United States, Canada, Australia and New Zealand.

The tech giant revealed that it would have made ‘significant changes’ to the way that ByteDance and TikTok deal with security, privacy and online safety – something that it believes would have been good for American users.

In a statement, Microsoft says, “ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft. We are confident our proposal would have been good for TikTok’s users while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas.”

Microsoft CEO was said to be in talks with the chinese tech company as well as the Trump administration over the sale – this comes after the US has made it very clear that it’s considering banning by the popular video-sharing app over user-privacy concerns.

This failed attempt from Microsoft could leave the door for Oracle wide-open. Last month Oracle emerged as a potential buyer of TikTok according to a report by the Financial Times.

Sources told FT that the US tech company was already in “preliminary talks with TikTok owner Bytedance, and was working with a group of investors that already holds a stake in the Chinese company.”

By Jenna Delport

Editor
We are highlighting trends, happenings, developments and icons in the African tech space. Tech News Africa here on Tech Times Africa!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Africa’s Top LinkedIn Influencers 2021

The Tech Times Africa Top LinkedIn Influencer Award is Africa’s largest and most prestigious accolades for the most influential personalities in the...

Nigeria lifts ban on Twitter, says the social media giant has met conditions

The Nigerian government has lifted the suspension of Twitter operations more than six months after it first declared a...

How Touch and Pay (TAP) got 1.5 million Lagosians to adopt cashless bus rides

It was a busy Thursday afternoon in one of Nigeria’s busiest cities — Lagos. Three young men...

Ivorian e-commerce startup ANKA, formerly Afrikrea, raises $6.2M pre-Series A

Image Credits: ANKA A study by McKinsey & Company on general e-commerce activities in Africa says consumer...

Recent Comments

Obunseh patrick chukwuma. on Vote: Africa Corporate Brands Awards, 2020
Egbe Anyalewechi Malvin on Vote: Africa Corporate Brands Awards, 2020
Egbe Anyalewechi Malvin on Vote: Africa Corporate Brands Awards, 2020
DON'T FALL BEHINDBe The First To Get Notified on the latest Articles on Tech Times Africa. FREE!

Join over 940,000 subscribers worldwide. Receive our newsletter daily and straight into your inbox.