Microsoft Leaps into the Spotlight With a Bid For TikTok

▤ Summary

In late July, President Trump said that the social media platform, which his administration considers a national security risk, could be banned in the US because of its Chinese ownership. The security review will be left up to Microsoft and the company has pledged to keep all American users’ data within the U.S. and sever any connections to technology that remain in China. In the last week of July a group of investors, including Sequoia Capital and General Atlantic, floated a $50 billion bid for TikTok. The purchase of TikTok could create competition for Facebook and Google, leveraging gaming areas that Microsoft has a handle on like Minecraft and Xbox. Apple, Facebook, Amazon, and Alphabet testified in front of Congress in late July to discuss the issues related to monopoly activity and anticompetitive behavior.

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▦ Linked Companies

Microsoft

$1B+