Despite doubts about TikTok's future in the US, US President Donald Trump has announced that Microsoft is in talks to buy the app. This comes after a US law mandated that ByteDance, the parent firm of TikTok, sell off its stake or risk being banned from the US.
According to Trump, TikTok is attracting a lot of interest, and a possible bidding war would be advantageous. The US administration is worried that the Chinese government may use TikTok to sway public sentiment or spy on Americans.
If this deal succeeds, the tech industry will change dramatically.
Microsoft's interest in TikTok highlights the app's enormous popularity and growth potential. However, TikTok's future in the US is at stake as a crisis develops if the app is not successful following a 24-hour shutdown in the US.
