As per the media reports, Twitter Inc. has contacted Tittock’s Chinese owner ByteDance where it is now being said that the company may buy the US operations of the video sharing app.
The biggest challenge to any deal is the Trump administration’s executive order from August 6, which prohibits Ticketlock parent company Bytdance from handling transactions in the US. Order takes effect within 45 days. The administration considers the Chinese-owned app to be a potential security threat, despite that BiteDance or TickTalk has never shared Americans’ data with the Chinese government. No evidence has been found so far. Ticktock has said that he plans to challenge the Trump administration’s order.
There may be talk between Twitter and TickTalk, but here Microsoft is still ahead in this race in terms of bidding. According to sources, Twitter has a market capitalization of around $ 30 billion (£ 23 billion), which is equivalent to the valuation of assets of TickTock.
This week, Trump revealed the ban on transactions with Chinese-based owners. This includes WeChat and the TicTock app, due to which there has been a continuous tension between the two countries. Trump also said that he would support Microsoft’s efforts to buy Ticketock American operations this week. At the same time, he also said that he will ban these apps on September 15.