Donald Trump has given TikTok 90 days to find an American buyer. Once that period is over, the app will be removed from the US market. With time running out, TikTok’s owner, Chinese group ByteDance,Negotiations are ongoing with many companies In the United States, Oracle, Twitter and Microsoft are involved. For now, only Microsoft has officially expressed interest in the social network that teenagers love. According to the latest news, the discussions between the two players are moving in the right direction.
TikTok Applied to Netflix and Was Rejected
In parallel with the talks with Microsoft, ByteDance moves closer to Netflix For “evaluate your interest in a trade agreement” Report to our colleagues at the Wall Street Journal on its activities in the United States. The Chinese company aims to put pressure on investors by increasing the number of contacts made.
Unfortunately, the streaming giant quickly rejected TikTok’s takeover offer. With $13.5 billion in debt, Netflix is not really in a position to pay the amount needed to take over the social network’s operations in the US. In recent news, The price of TikTok’s US operations is estimated to be between $10 billion and $50 billion. Few companies based in the United States, including Microsoft, have the cash to buy them. The company founded by Bill Gates was sitting on a $133 billion war chest in 2018. The same goes for fellow rival Oracle, which has $40 billion in cash.
According to media reports, ByteDance is also in talks with two major American investment companies, General Atlantic and Sequoia Capital. While waiting for the negotiations to be successful, TikTok has filed a complaint against the Donald Trump government. According to ByteDance, Washington is trying to frustrate the negotiations with the companies interested in its acquisition. We will tell you more as soon as possible. While waiting for more information, do not hesitate to express your opinions in the comments below.
Source : Wall Street Journal
