Microsoft could buy TikTok next month
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The on-off talks between Microsoft and TikTok are back on again. Microsoft wants to buy part of TikTok. The tech giant has been in talks with TikTok's parent company ByteDance Ltd. Their discussions came to a halt last week when US President Donald Trump suggested that he might ban TikTok from the USA. He was worried that the personal details of Americans could get into the wrong hands. He changed his mind after the Microsoft CEO phoned him. Microsoft said it "would ensure that all private data of TikTok's American users is transferred to and remains in the United States."
TikTok is the latest social media site to become hugely popular. Users upload short videos of themselves lip-syncing to well-known songs, dancing, making faces or doing other funny things. TikTok's owner ByteDance is based in Beijing. It was founded in 2012 by a Chinese entrepreneur. It now has over 800 million users worldwide. Microsoft is offering ByteDance $50 billion for a part in the company. However the business website Bloomberg disagrees with this value. It said: "The idea that TikTok - without...emerging markets - is worth $50 billion today is fanciful.
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