Although currently, TikTok is the most controversial social media app, the list of suitors for buying its operations has some big names. As per a report by The Wall Street Journal, after Microsoft, Twitter has also joined the race to grab the US operations of TikTok.
TikTok is in a dire situation, not only in the US but is facing trouble in one of the major economies like India as well. The latter has already imposed a ban on TikTok along with 59 Chinese apps.
And now the US is also looking for a ban on TikTok if the social media giant does not close a deal before September 15. As of now, Microsoft was at the forefront of cracking the deal.
Matter of fact, it is already in the news that the tech-giant is almost on the verge of acquiring global operations of TikTok.
But a new report by Engadget suggests Twitter is also exploring its opportunities to sign the dotted lines with TikTok. Twitter is looking to grab the US operations of the social media giant. However, the talks are at an early stage and we might see further developments in the near future.
Twitter likely to draw large amounts from investors to strike a deal with TikTok
Twitter is one of the successful social media platforms and has been successful in the past years. However, the last quarter did not prove fruitful for the company and it suffered a loss of $1.2 billion.
There are reports which point that Twitter is not as huge as Microsoft to crack this deal with TikTok. But some numbers definitely favor Twitter.
Though Twitter is not as huge as Facebook or Microsoft, the number of active daily users on Twitter amounts to 186 million worldwide, while TikTok is said to have 41 million active daily users.
This puts Twitter as a full-fledged counterpart to buy TikTok's US operation. So, this deal would definitely impact the operations of Twitter as a whole.
We speculate that this Twitter deal might be something, which TikTok was not previously considering. But is now actively exploring this case because of the little time they have left before the ban in the US.
TikTok is planning legal action against the US executive order
In one of our reports, we have highlighted that the US executive order came as a shock to TikTok. It claims that the evidence and information shared by the company were completely neglected by the US government.
The executive order states that the TikTok app's data could be used by China to spy against the US. Moreover, this personal information could also be used to run misinformation campaigns in the US.
Well, there are several occasions where TikTok has stated that they do not share their data with the Chinese government. Besides, it also claims that TikTok is put under rigorous scrutiny as compared to its peer companies.
All in all, TikTok has till September 15 to sign the dotted lines to sell its US operations. If it fails to do so, then the ban will be executed by the US government.