TikTok - Business Outrank

US government is in the process of talking with 4 different groups regarding the prospect of acquisition of TikTok, President Donald Trump confirmed while on Air Force One. Trump said, “We’re dealing with four different groups, and a lot of people want it … all four are good.” The discussions follow a law signed on January 19 that requires ByteDance the parent company of TikTok to sell the app or be banned in the US for national security reasons. On his first day in office, January 20, Trump signed an executive order extending the time of enforcement of the law by 75 days to allow for other arrangements to be made without compromising on the issue of national security. The uncertainty has generated by TikTok has attracted the attention of potential buyers including the former owner of Los Angeles Dodgers, Frank McCourt. TikTok is currently valued at $50 billion according to analysts, making it one of the most valuable social media platforms in the world. As of now, neither TikTok nor ByteDance has issued any statement regarding the negotiations regarding the matter. But as the 75 day deadline approaches, the pressure is on to reach a agreement that will allow TikTok to keep on operating in the United States. The next two months will be important for TikTok in the US, it will be known whether a sale will be made or if a policy change will be implemented.

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