Some four weeks away, United States President Donald Trump, using an executive order demanded that ByteDance liquidizes all their assets within the United States and exit the ecosystem due to Security concerns.
A scramble for who can purchase the App, TikTok then begun with key players in the industry such as Microsoft, Oracle, Twitter and even Walmart all showed interest in buying the app that took the world and held its attention for 2 years and counting. The pandemic only boosted its eminence much to the amazement of many.
Since then the owners of the app have struggled with the news, counter-sued the United States Government and eventually, the Chinese Government introduced a clause that prevents Chinese originated Intellectual Property such as TikTok to be sold without its express approval. Read more about it here.
The story has now taken a recourse since that directive went out and it now appears that the parent company, ByteDance is discussing ways to keep the data out of the reach of the Chinese Government which was the bone of contention in the first place.
It is not clear how the US Government will react, but it is quite clear that with the new Chinese Government directives underway an outright sale will be extremely difficult.
[…] a statement, ByteDance mentions that the partnership meets the U.S President’s requirement of protecting th…. It is not clear yet whether this partnership will suffice instead of an outright […]
Comments are closed.