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

Starbucks demonstrates rapid sales recovery

Shares of Starbucks recovered from losses of February and March due to the pandemic and rose by 19.7% over the past 6 months. But shares fell again after the publication of the quarterly report, which ended September 30. Starbucks revenue and profit for the 4th quarter of fiscal 2020 showed a strong jump in growth […]

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

The Japanese company Fujikura opened a plant in the Lviv region

The opening of the plant of the Fujikura company in Ukraine should be a strong signal to all investors willing to believe in our country. The President of Ukraine Petro Poroshenko wrote about this in his Twitter after the opening of the new plant of Fujikura  in village Pidryasne near Lviv. “You will not find […]

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

Ukrainian startup TripMyDream was acknowledged as the best travel-startup in the world and will receive investments up to $ 500,000

In Lausanne (the Swiss city) took place  the final of the international start-up competition Seedstars Summit 2016 in which the best tourist startup in the world was chosen. The main prize, the investment of up to $ 500,000 received the Ukrainian company TripMyDream. The team fought for the title of winner among the ten finalists, […]

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

Bezos sold Amazon shares for $ 6.7 billion

Amazon founder and CEO Jeff Bezos sold shares of the company worth about $ 6.7 billion for the period from 3 to 10 May. This was reported by Interfax on Wednesday, May 12, citing data from the Securities and Exchange Commission (SEC). In particular, from May 3 to 6, Bezos sold 1.48 million shares for […]

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

Understanding Your Social Currency Is the Key to Success

Gerard Adams, who is also called Mentor of Millenials is an American entrepreneur, an expert in the field of branding, philanthropist. He came to millionaire status in the age of 24 years. Edition Entrepreneur published Gerard reflections that represent the social significance and the role it plays in building a business for him. Knowing your […]

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

The Germans are buying up sugar factories in Ukraine: the crisis in the industry is over?

Radekhivskyi tsukor company, which is the largest producer of this product in Ukraine, has closed a deal to acquire 6 sugar factories previously owned by the company T-Tsukor. We are talking about: Borshchivskyi, Buchatskyi, Zbarazhskyi, Kozovsky, Lanovetskyi and Khorostkovskyi sugar factories, which are located in the Ternopil region. It is reported by the source delo.ua. […]

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

PayPal has expanded its cryptocurrency service to all US users

PayPal Holdings has fulfilled its promise made last month by making its PayPal Cryptocurrency application available to all registered users in the United States. On October 21, the service was launched in test mode for a limited number of users. Commenting on the November 2 financial report, PayPal CEO Dan Shulman said that only 10% […]

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

Netflix reported a slowdown in the number of new subscribers

The streaming service Netflix published quarterly reports, which did not meet analysts’ expectations on a number of indicators. In this regard, the company’s shares fell by 5.7% during electronic trading. For example, Netflix’s earnings per share were $ 1.74, while analysts surveyed by Refinitiv expected $ 2.14. The number of new paid subscribers was 2.2 […]

Next
snymok02
Analytics

Investing in the pharmaceutical sector: what is the formula for success?

What is the current situation with investment in the pharmaceutical and medical sector of Ukraine? Can we expect the prosperity? If yes, then when? If no, then why? What may attract, and what may prevent? Investments background Investments in the medical sector of Ukraine are considered to be one of the most promising according to […]

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

Hyundai and Kia acquire 23% stake of Hyundai Capital from General Electric

Recently, according to informed sources, the major Korean  automakers Hyundai Motor and Kia Motors announced the purchase of the financial corporation Hyundai Capital from General Electric. The transaction price is generally $ 599,5 million. (Hyundai will pay $ 81,800,000 for 3% of shares, and the company Kia Motors will acquire a 20% stake for $ […]

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

Jeff Bezos’ Wealth Soars to a Record $180 Billion

According to Forbes, the fortune of the world richest man, the head of the American corporation Amazon, Jeff Bezos, has exceeded a record $180 billion. It is noted that Bezos’ fortune increased because of rising share value of his company Amazon. According to the publication, Amazon’s capitalization reached $1.54 trillion. Thus, Bezos’ fortune (he owns […]

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

The Court reopened a case on the right of SANOFI for a trademark “SONAFІT”

Last year, the Commercial  Court of Kyiv initiated a suit of the SANOF I company to the State Intellectual Property Service of Ukraine and to the “Kyivmedpreparat”, PJSC about completely voidance of Certificate  of Ukraine on sign for the goods and services № 187104. The object of dispute  has become a “SONAFІT” trademark registered company […]

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

Naftogaz reacted to Kobolev’s dismissal

Naftogaz announced a return to the practice of manual management of state-owned enterprises after the Cabinet’s decision to dismiss the head of the NAC Andriy Kobolev and the company’s supervisory board. The board of Naftogaz announced this on Wednesday, April 28. The company claims that the government’s decision is a legal manipulation. “The dismissal of […]

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

Pfizer and BioNTech have created GPS containers to deliver the coronavirus vaccine

Special isothermal containers have been developed for the transportation and storage of the new coronavirus vaccine by the pharmaceutical companies Pfizer and BioNTech. This was announced by Pfizer CEO Albert Burla in an interview with The New York Times on Tuesday, November 17. “These containers are equipped with GPS sensors and thermometers inside so that […]

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

The TMT Investments sold partially its stake in the Ukrainian image bank Depositphotos for $ 5.8 million

The TMT Investments Company has sold a 7.1% stake in the Depositphotos company to the private European investor, whose name was not disclosed. The deal amounted to $ 5.85 million. Thus, the overall assessment of the  Ukrainian company, according to the terms of this transaction, is approximately $ 82 million. TMT will use  the proceeds […]

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

Aston Martin has introduced a new supercar

Automotive sports car maker Aston Martin has introduced a new Aston Martin supercar Valkyrie Spider. “Aston Martin Valkyrie is a product of incredible innovation and technology, but above all, it’s about emotions. At Valkyrie Spider, we take that passion and emotion to the next level. The driving experience promises to be truly sensational,” said CEO […]

Next