Microsoft has announced to acquire TikTok in the United States by September 15

News

Microsoft has announced to acquire TikTok in the United States by September 15

06.08.2020 News

Microsoft announced the plan: to buy the fashionable social application TikTok, that owned by the Chinese company Bytedance Ltd, and confirms the long-standing efforts of the technology giant to occupy a niche in the digital advertising market, along with Facebook and Google.

It is known that Microsoft intends to acquire TikTok’s business in the United States, Canada, Australia and New Zealand, and may invite other US investors to participate in the acquisition. Potential value and conditions are not disclosed.

The current hurdle to a potential deal is that the U.S. Foreign Investment Committee (CFIUS) has been investigating the legality of Bytedance’s acquisition of the Musical.ly app in 2017, which was added to TikTok, since November 2019.

TikTok was launched in the US more than two years ago after the acquisition of Bytedance Musical.ly, combination of functions of the two applications brought TikTok popularity in the United States – the number of downloads has exceeded 165 million, and worldwide the application has already downloaded more than 2 billion users.

After the escalation of the conflict between the US and China, following Washington’s accusations for Beijing in that the Chinese government has done insufficient to prevent the spread of the COVID-19 coronavirus, rhetoric against Chinese companies has become more severe.
In early July, Secretary of State Mike Pompeo stated, that the United States is considering banning TikTok, as well as other Chinese social networking applications, referring to national security considerations. Pompeo added that the Trump administration evaluates TikTok like Chinese state-owned enterprises.

Huawei and ZTE, whom he had previously accused of spying for the Chinese government

In an interview with reporters, US President Donald Trump said: “we ban TikTok, in the United States.”

However, Microsoft said in a press that it would continue to work with the US government on the agreement and that the company intends to complete negotiations on the acquisition of TikTok on September 15.

According to Bloomberg, Microsoft CEO Satya Nadella had a telephone conversation with Trump to gain support for the agreement. In favor of the agreement may contribute to at least two factors – this is the dissatisfaction of millions of American TikTok users (potential Trump voters in the upcoming presidential election in November this year) and creating more competition in the large social market, networks, which essentially consists of Facebook and Twitter.

Fans of Tik Tok and defenders the freedom of speech on the Internet launched a video with the hashtag #ban against the ban on the application, which received more than 620 million views on TikTok.

In addition, Microsoft has promised that TikTok users under company leadership will receive “world-class security, privacy and digital protection”, American`s user data will be stored exclusively in US data centers and will be removed from foreign servers after the migration.

Tik Tok’s management also noted that the company is creating a large number of jobs in the United States.

TikTok has already hired nearly 1,000 people this year and plans to hire another 10,000 people for “high-paying jobs” in the United States, approved in a statement by a company representative.

The company also has created a business support fund in the country worth $ 1 billion.

All this is very serious in terms of promises when the United States is experiencing high unemployment and a record economic decline because of the crisis of pandemic.

Other articles

  • Exxon Mobil announces record depreciation of its gas assets by $ 20 billion
    News

    Exxon Mobil announces record depreciation of its gas assets by $ 20 billion

    The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial […]

  • AirBaltic will resume flights to Ukraine
    News

    AirBaltic will resume flights to Ukraine

    Latvian airline AirBaltic will resume flights to Ukraine on December 1 and will start a new flight Vilnius-Kiev to Boryspil airport. The schedule includes departures twice a week on Tuesdays and Saturdays on Airbus A220-300. Flights from Vilnius will depart at 09:00, from Kiev – at 11:15. “Vilnius Airport can be used for transit to […]

  • The Dow Jones index exceeded 30,000 points for the first time in history
    News

    The Dow Jones index exceeded 30,000 points for the first time in history

    The Dow Jones and S&P 500 stocks hit record highs on Tuesday, November 24 amid official news of the transfer of power in the United States and progress in the development of coronavirus vaccines. In particular, the Dow Jones industrial index rose by 1.5% and for the first time in history exceeded 30,000 points. According […]

  • WHO has announced a new record weekly increase in COVID-19 cases
    News

    WHO has announced a new record weekly increase in COVID-19 cases

    Last week, from November 16 to 22, more than 4 million people in the world became infected with the new type of coronavirus, which is a record number since the beginning of the pandemic. This was announced on Tuesday, November 24, the press service of the World Health Organization. According to the WHO, in these […]

  • Citigroup predicted the dollar to fall by 20% next year
    News

    Citigroup predicted the dollar to fall by 20% next year

    If coronavirus vaccines become widely available and help restore international trade and economic growth, the dollar is likely to fall by 20% in 2021. Bloomberg reports that this forecast was made by Citigroup Bank. If the forecast comes true, it will be a record drop since 1985, when the DXY index fell by 18.5% over […]

  • Weekend quarantine: named losses of restaurants
    News

    Weekend quarantine: named losses of restaurants

    During the first weekend of weekend quarantine, catering establishments lost 27% of turnover. This is as of Monday, November 16, according to the platform Opendatabot, citing data from Poster, a restaurant automation company. It is noted that during the week the turnover of cafes and restaurants fell by 10% compared to the previous week. In […]

  • The Moderna vaccine has been tested. It can be approved at an accelerated rate
    News

    The Moderna vaccine has been tested. It can be approved at an accelerated rate

    Reuters reported, In Switzerland, the procedure of accelerated testing of Moderna vaccine has started. This will allow to approve the drug if it passes all clinical trials. “Swissmedic can get an initial idea of the benefits and risks of vaccine candidates before the study is completed. This speeds up the review process and at the […]

  • The WHO hopes to radically change the situation with the coronavirus by March
    News

    The WHO hopes to radically change the situation with the coronavirus by March

    The World Health Organization expects that by the spring of 2021, the situation in the fight against the coronavirus pandemic could change significantly. The main hope is the invention of vaccine against the disease. This was stated by Adviser to the Director-General of the WHO Bruce Aylward. He noted that by March the situation could […]

Read also

Microsoft has announced to acquire TikTok in the United States by September 15
News

TikTok has sued the Trump administration due to the ban on activities in the United States

TikTok and one of its employees sued the administration of US President Donald Trump on Monday, because of his decree of a banning video service transactions in the United States, calling it a reason to incite anti-Chinese rhetoric as he seeks to win the election. TikTok Company of Culver City, California, and its Chinese parent […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

The NBU has minimized the purchase of currency on the interbank market

During the last working week, the National Bank of Ukraine bought $ 20 million on the interbank foreign exchange market. At the same time, the central bank did not sell currency on the interbank market. The press service of the NBU announced this on Friday, October 1. Thus, the National Bank continued to buy currency […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

Agricultural holding “Industrial Milk Company” will receive $ 20 million for appending of the floating capital from the European Bank for Reconstruction and Development

Agricultural holding “Industrial Milk Company” (IMC) is planning to raise $ 20 million funding from the European Bank for Reconstruction and Development for appending of the floating capital. According to the bank’s website, the board of directors plans to consider the relevant draft at the meeting on April 20. The total cost of the project […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

Oil prices jumped in the US election

In the background of the general election in the United States world oil prices jumped.This is evidenced by trading data as of Monday morning, November 9. And what about the election, according to preliminary data in the presidential race the Democrat Joseph Biden wins. Thus, the price of January futures for Brent oil on the […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

UBRD sold to China Company

The State Property Fund of Ukraine representative informed that 99,99% of Ukrainian Bank for Reconstruction and Development (UBRD) had been sold to Bohai Commodity Exchange within the auction second round. The State Institution posted this information on the official web-site. The transaction value consists 82,8 million UAH. The asset’s cost of Ukrainian bank was underestimate […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

Alphabet has taken $10 billion in the bond market at a record low interest rate

On August 3, Alphabet issued bonds worth $10 billion. This is the largest issue of debt securities in the history of the company, according to the Reuters. With $ 10 billion bond tranche allocated $ 1 billion with a maturity of 5 years and a coupon of 0.45%. The $4.5 billion tranches with maturities of […]

Next
020 5184x7776 all free download.com  e1404372393353 1024x477 640x420 1
Analytics

Ukrainian choice and «green tariff»: what awaits the energy market in the coming years?

LET’S GO GREEN 2016 has set two opposing energy records. According to the International Energy Agency (IEA), oil production has fallen to a minimum level over the past 70 years. Mining companies continue to reduce costs associated with low oil prices. Mining has dropped to 2,4 billion barrels in 2016, compared with the average indicator […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

A shareholder of Alfa-Bank Ukraine became an investor of Uber

The LetterOne Holding (L1), one of whose shareholder is the billionaire Mikhail Fridman (who was born in Lviv, and who is one of the shareholders of Alfa-Bank Ukraine), invested $ 200 million in Uber  taxi service. This is stated in the message of LetterOne. “I am very pleased with our strategic partnership with Uber. As […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

BMW will take off from the implementation of about 200 thousand cars

German automaker BMW will have to withdraw 193 thousand of its cars from the Chinese market. It is reported by Russian news portal Tass.ru with reference to The Xinhua News Agency. According to the original source, the car had to be removed from sale due to security problems: in particular, it is a defect of […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

Nataliya Osadchaya: “Engaged in prevention of raiding at a stage of entry into the project, because treatment can not salvage”

The subject of raiding remains urgent and at the same time very painful for Ukraine, especially for foreign investors. It isn’t accepted to speak about it openly. The  victims of similar captures in rare instances make public the fact of their entities occupation. Syutkin & Partners Law Firm together with USUBC, the Ministry of Justice […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

Fintech’s subsidiary Alibaba has aimed for the largest IPO in history

A subsidiary of Alibaba Group – Ant Group – plans to attract $ 35 billion in the course on the Shanghai and the Hong Kong exchange. This was reported by Bloomberg. The IPO could be the largest in history, the agency emphasizes. The previous record holder, Saudi oil company Aramco, raised $ 29.4 billion. The […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

Belarus to reduce gasoline exports to Ukraine

The Belarusian oil company will reduce the supply of A-95 gasoline to Ukraine in June by more than five times – up to 10 thousand tons. This was reported by enkorr citing a source. It is noted that the decision was made after the news of the BNC’s intention to reset the supply of this […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

The Supreme Court upheld the Оschadbank in a dispute with Sberbank of the Russian Federation

The Supreme Court did not satisfy the cassation appeal of Sberbank of Russia and recognized the Ukrainian state Оschadbank as the legal owner of the Sberbank trademark in the country. “The Supreme Court did not find grounds to satisfy the cassation appeal of Sberbank of Russia and upheld the decision of the Northern Commercial Court […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

Polish investors bought the part of shares of Astarta

Polish investors headed by the  Aviva Investors Poland bought more than 3% stake of the “Astarta-Kyiv” agro-industrial enterprise. This is stated in the issuer’s announcement on the Warsaw Stock Exchange site. According to the report, the Polish investment funds headed by the Aviva Investors Poland SA concentrated 3,002% of shares of Astarta Holding N.V. (Netherlands) – […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

Danish agricultural company affiliated enterprise opens a pig factory farm for 12 million euros

LLC Dan-Pharm Ukraine expects to put into operation pig factory farm on feeding  of  25 thousand hogs  in Korostensky district in the Zhytomyr region. On Tuesday, Vadim Shestakov,the First Deputy CEO of the company told journalists during the AgrarianOlympus of 2016 international congress : “We began to build it in 2014 and we have been […]

Next
Microsoft has announced to acquire TikTok in the United States by September 15
News

State of Amazon head Jeff Bezos has reached $ 200 billion

The position of the richest man in the world, Amazon CEO Jeff Bezos reached $ 199.7 billion, which is a record for a businessman. This was reported on Wednesday by Forbes magazine. The publication noted that during the trading of Amazon shares on Tuesday, the state of Bezos even exceeded the mark of $ 200 […]

Next