Twitter eyeing TikTok?
August 10, 2020
Twitter has reportedly approached ByteDance, the Chinese owner of TikTok, with regards to purchasing its US operations.
Social media video-sharing app TikTok has been at the centre of debate recently. Last week US President Donald Trump ordered firms to stop doing business with the company within 45 days over security concerns.
Microsoft is also front-runner to buy TikTok. Twitter’s market capitalisation is about $29 billion, somewhat minute when compared to Microsoft’s $1.6 trillion+. But industry analyts believe a possible Twitter deal would face less regulatory scrutiny than Microsoft’s.
The valuation of TikTik’s US operations is estimated at tens of billions of dollars.