Tensions between ByteDance and President Donald Trump are heating up. Through his latest executive order, Pres. Trump has told ByteDance to sell the app within 90 days. He also ordered TikTok’s parent company to sell to a US buyer.  

In the order, Trump said ByteDance threatens national security. US lawmakers have warned that TikTok was sending user data to the Chinese government.

Trump vs. ByteDance

Gizmodo reports that the order told ByteDance to destroy all user data stored by TikTok and Musical.ly. In 2017, ByteDance bought Musical.ly.  

Once it removed the data, ByteDance should inform the Committee on Foreign Investment.  

ByteDance Banned in the US

Trump had already blacklisted TikTok and other Chinese-owned apps last Thursday. Among these apps is the popular messaging app WeChat. Under the ban, US citizens cannot make deals with these companies after 45 days.

Trump gives Bytedance 90 days to find a buyer for TikTok's U.S. operations, cites "credible evidence" of a national security threat in new executive order. https://t.co/7skquACU9O pic.twitter.com/yiBpZJm5Bo

— Gizmodo (@Gizmodo) August 15, 2020

On the same day, the US Senate also passed a bill that ordered government workers to delete TikTok from their phones. Also, the US military has banned TikTok from soldiers’ phones. The US Army has also called TikTok a threat to cybersecurity.

TikTok Responds

In response to the ban, TikTok plans to file a lawsuit against the US government. TikTok said the charges against them were false. Moreover, the US government didn’t give TikTok the chance to answer the accusations.

With the new order, ByteDance has more time to sell TikTok to Microsoft or Twitter. If the deal happens, it could be worth billions of dollars.

The post Trump Orders ByteDance To Sell In 90 Days first appeared on Tekrati and is written by Sam Arnold

After getting banned in the US, TikTok will sue the Trump administration as soon as Tuesday. Earlier, US lawmakers have warned that TikTok sends user data to the Chinese government. On Friday, President Trump banned TikTok through executive order.

The President had also ordered US companies to buy out TikTok. Microsoft and Twitter have started merger talks with the company. 

TikTok vs. the US Government

NPR reported TikTok’s plans to sue the US government. Moreover, Gizmodo says that TikTok plans to challenge Trump’s claim against ByteDance, its parent company. Trump had said ByteDance was sending user data to Beijing. Next, TikTok noted that President Trump pushed them out without giving them a chance to answer the charges.

TikTok will file the suit in California, the center of its US operations. The US District Court for the state’s Southern District will hear the case.

TikTok's reportedly planning to sue the Trump administration over its recent ban. https://t.co/C1ohbONbUH pic.twitter.com/wXlpnkqQ5k

— Gizmodo (@Gizmodo) August 9, 2020

The US Government’s Threats Against TikTok

President Trump had blacklisted TikTok, along with other Chinese-owned apps like WeChat, on Thursday. Another Chinese company, Tencent, owns WeChat, which is a popular messaging app. With the blacklists, no American can make deals with these banned Chinese companies.

This ban could cripple TikTok and other apps. Kicking out Chinese companies could prevent companies from buying ads on TikTok. Without paid ads, TikTok and its popular creators will lose money. 

TikTok’s Response

TikTok had agreed to talk with Microsoft for a deal. To appease its critics, TikTok has also said that it stores user data on servers in the US and Singapore.

The post TikTok to Sue Trump Administration Over US Ban first appeared on Tekrati and is written by Sam Arnold

Now it’s not just Microsoft that’s planning to buy TikTok. Social media giant Twitter has put its hat in the ring, starting merger talks with the video-sharing app. Both companies have expressed a desire to buy TikTok after US President Donald Trump said he wants to ban the app or else sell it to US firms. Earlier, US lawmakers have warned that TikTok is a risk to national security.

Notably, Twitter had already canned Vine, its short-form video app, in 2017.

Twitter Talks Merger with TikTok

Gizmodo reports that Twitter began talking with TikTok about a possible merger. Unlike Microsoft, Twitter plans to acquire TikTok’s US division, instead of its overseas branches in Australia, Canada, and New Zealand.

If Twitter’s plans push through, the company would need to figure out the total value of TikTok. According to Fortune, TikTok’s US business could be worth around $20 billion to $50 billion.

Haunted by regret over killing Vine, Twitter purportedly eyes acquiring TikTok. https://t.co/7emFuwPahb pic.twitter.com/avuMDbesXm

— Gizmodo (@Gizmodo) August 10, 2020

Microsoft vs. Twitter: Tale of the Tape

In terms of market capitalization, Microsoft leads Twitter by miles. Twitter’s worth reaches only $29 billion compared to Microsoft’s $1.6 trillion. The software giant also leads Twitter by billions in investments, both cash and short-term. Microsoft received $136 billion, while Twitter only had $7.8 billion in June. In the latest quarter, Twitter also posted a loss of $1.23 billion. 

The US Plans to Sell Off TikTok

President Trump has given TikTok a deadline of September 15 to get out of the US or sell to a US company. Earlier, US lawmakers have claimed that TikTok, and its parent company ByteDance, stores user data to send to the Chinese government. ByteDance is a Chinese-owned company.

ByteDance and TikTok have denied these claims.

The post Twitter Joins Microsoft In Race To Buy TikTok first appeared on Tekrati and is written by Irene Hawkins