Bill Gates admitted he’s not the target audience for the popular social media app TikTok, but the Microsoft co-founder, weighing in on a potential acquisition by his former company, told Bloomberg Television that he believes in the tech giant when it comes to data security.
Is Microsoft going to buy TikTok?
Microsoft is officially out of the running to buy TikTok. The company issued a brief statement on Sunday confirming that ByteDance, TikTok’s parent company, rejected its offer to buy TikTok’s US operations.
Who is buying over TikTok?
Oracle will become TikTok’s cloud provider and a minority investor with a 12.5% stake. Walmart has tentatively agreed to a purchase 7.5% stake, and CEO Doug McMillon would serve as one of the five board members of the newly created company.
Why is Microsoft not buying TikTok?
Microsoft’s bid for TikTok fell through after the tech giant insisted on acquiring full control of the social video app’s U.S. operations, data, source code and algorithms, declining to settle for a lesser deal that didn’t put those key assets in its hands.
Is TikTok owned by China?
TikTok is owned by ByteDance, one of the most influential companies in China. Ten months ago, President Trump’s administration dubbed TikTok a national-security threat. … In its current form, ByteDance is very much a Chinese-owned entity. Zhang Yiming, the man behind ByteDance, is one of the wealthiest people in China.
What will happen if Microsoft buys TikTok?
The acquisition also means that Microsoft will gain access to user data that could impact how other products and services are developed inside the company. In a statement on its blog post, Microsoft guarantees to transfer and keep all the personal information of America’s TikTok users in the country.
Who owns TikTok 2020?
TikTok, known in China as Douyin (Chinese: 抖音; pinyin: Dǒuyīn), is a video-sharing focused social networking service owned by Chinese company ByteDance.
Why would Walmart buy TikTok?
Walmart is one of many retailers that have looked to the popular app as a way to follow trends, create shoppable content, and strengthen its brand among teens and 20-somethings. Walmart buyers consulted TikTok as they decided which toys to order for the holiday season.
How does TikTok make money?
Like YouTube, TikTok offers paid advertisements for brands to promote their products and services. Brands can use TikTok For Business to enhance their marketing solutions through features such as in-feed videos, brand takeovers, hashtag challenges and branded effects.
Does Walmart own TikTok?
Walmart’s latest e-commerce partnership comes after the retailer, along with technology firm Oracle, agreed to buy up stake in TikTok Global from its parent company ByteDance. … Walmart’s first TikTok shopping experience will launch on December 18 at.
Why is TikTok being sold?
TikTok has been a political football since last summer, when then-President Donald Trump issued a pair of executive orders that cited the app’s data collection practices as national security concerns.