However, it isn't every day when an app with over two billion installations becomes the subject of a takeover battle involving a huge USA company and the President of the United States. The company wrote, "Microsoft appreciates the U.S. Government's and President Trump's personal involvement as it continues to develop strong security protections for the country".
"We have always been committed to ensuring user data security, as well as the platform neutrality and transparency", he said. ByteDance has said it expects valuation for the app to exceed $50 billion, although USA pressure to divest it could lower the price tag.
CRN has reached out to TikTok for comment.
But sources quoted by worldwide media said ByteDance would exit completely and Microsoft Corp would take over TikTok in the US.
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The ban was floated last month after the US House of Representatives voted to bar TikTok from use on all government-issued phones, due to the app's alleged connections to the Chinese government. TikTok says it doesn't censor videos and it wouldn't give the Chinese government access to U.S. user data.
Later when talking to reporters, Mnuchin said that the Committee on Foreign Investments in the U.S., which he chairs, had reviewed the app and unanimously made a recommendation on action to the President but would not give details on what that recommendation was.
"The United States would be the biggest loser if it banned TikTok", Daniel Castro, vice president of the think tank Information Technology & Innovation Foundation, said Saturday.
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TikTok has repeatedly rejected accusations that it feeds user data to China or is beholden to Beijing, even though ByteDance is based there. "But the United States should be reimbursed or should be paid a substantial amount of money". "They put a puppet CEO in charge of that company", he told Fox News, referring to former Disney executive Kevin Mayer, who became the chief executive officer of TikTok in May.
The company will stick to globalization despite difficulties including US political suppression and rival Facebook's smear, it said in the statement. White House adviser Peter Navarro on Monday said in a pair of interviews with CNN and Fox News that he wasn't sure Microsoft was the right company to buy TikTok's United States operations, saying it had helped China construct its internet firewall.
The IT group now owns the professional networking platform LinkedIn, and Teams, an internal messaging service for companies.
Microsoft purchased LinkedIn for $26.2bn in 2016. Microsoft's market capitalization is approximately $1.55 trillion. Microsoft once paid $6.3 billion for Internet ad company aQuantive, the largest deal ever for the company at the time.
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Free speech advocates also piled on against the idea of banning any kind of Internet service, regardless of its owner. Microsoft said that the negotiations are back on after Satya Nadella spoke to Trump.