TikTok has been in turmoil for several months. With 1 billion users worldwide and accused by the United States of spying on behalf of China, the young app is struggling to project a positive image of its social network. However, it seems that this summer’s saga is coming to an end, as several well-funded buyers are offering to acquire the app, which is valued at between $20 billion and $30 billion.
Microsoft is leading the race to acquire the company. The tech giant has shown great interest in taking over the app’s operations and is, for now, the clear favorite. In second place, tech giant Oracle is hot on Microsoft’s heels. Its advantage? Its CEO, Larry Ellison, has openly supported Donald Trump… It’s only a short step from there to suggesting that a decision based on favoritism is possible!
The summer saga is expected to come to an end around September 15, so negotiations between ByteDance (the owner of TikTok) and potential buyers are far from over—and we can be sure that a last-minute twist could still take us by surprise!
The other potential buyers aren't up to the task
Among the potential buyers, ByteDance also received proposals from Walmart, the retail giant, which expressed interest in acquiring the app, particularly drawn to TikTok’s e-commerce capabilities. Considered less technologically robust than the other contenders, Walmart then partnered with Microsoft. “Two heads are better than one,” as the saying goes! By partnering with the tech giant, Walmart was able to adapt, return to the forefront, and reposition itself as a potential buyer.
Twitter also expressed interest in acquiring TikTok, but the parent company determined that, financially speaking, the platform with the blue bird logo wasn't financially strong enough.
Will Microsoft/Walmart or Oracle come out on top? We’re taking bets—contact us to place yours! (Or, more seriously, contact us to produce videos for your company… We promise they won’t cost 20 billion dollars.)
