14 DAY TRIAL // The TikTok saga is about to come to an end, as the Chinese-owned service is ready to announce who its mysterious new owner is going to be.
According to a report from CNBC, TikTok and the parties involved in the takeover talks have recently reached an agreement, and an announcement in this regard should be released on Tuesday.
The only we don’t know is who is the company that’s going to control TikTok’s operations in the United States, New Zealand, and Australia, despite the fact that Microsoft and Walmart were believed to be in pole position to purchase the firm.
The linked source claims the new TikTok owner could end up paying as much as $30 billion for the social network that has become a real Internet phenomenon in the last years.
Is Microsoft the new TikTok owner?
Microsoft was one of the first companies to confirm their interest in TikTok, explaining that an announcement was expected by September 15.
“Microsoft will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President,” the software giant said in a press statement in early August.
At the same time, Microsoft promised it would move the data of American users to the United States and store it on local servers for better security and privacy.
“Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States. To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred,” it said.
TikTok itself has remained completely tight-lipped on any new parties interested in the takeover.