Microsoft may strike a deal to buy all of TikTok’s global business
Published On: Friday, August 7, 2020 | By: Team KnowMyStock
Microsoft may strike a deal to buy all of TikTok’s global business, including the viral video app’s operations in India and Europe. The value of Tik-Tok’s India business may be as much as $10 billion. On Sunday (2nd August 2020) Microsoft had said that it was in negotiations with ByteDance, the Chinese owner of TikTok and the world’s largest startup, to explore a purchase of the TikTok service in the US, Canada, Australia, and New Zealand. Since then, Microsoft has also pursued a plan that will include all countries where TikTok operates.It does not operate in China, and such a deal would not extend to its China-facing sister app Douyin.
India was TikTok’s biggest market, with more than 650 million downloads, according to Sensor Tower data. But it’s been banned in the country since the end of June when the government put it on a blacklist of 59 Chinese apps, citing threat to national security in the wake of border hostilities.
Purchase by Microsoft may help restore TikTok's fortunes by removing the stigma of Chinese ownership at a time when sentiment against the country has been inflamed by the clash at the Line of Actual Control.
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