Microsoft’s offer to buy TikTok rejected
TikTok's future is uncertain after Microsoft's offer to buy the viral social media platform's US operations was rejected by its Chinese parent company ByteDance.
Technology giant Microsoft was considered the lead contender in the race to buy TikTok after United States President Donald Trump made an executive order banning the social media platform unless it was sold.
Any sale was also likely to involve TikTok's operations in Australia, Canada and New Zealand.
TikTok’s parent company ByteDance has rejected Microsoft’s offer.Credit:Getty
TikTok features 15-second videos of users mostly lip syncing, dancing and performing comedic skits and the app's popularity has soared during the COVID-19 pandemic with more than 2 billion downloads globally and an an estimated 1.6 million users in Australia.
Microsoft posted a statement on its website stating that ByteDance had let Microsoft know it would not be selling TikTok's US operations to Microsoft.
"We are confident our proposal would have been good for TikTok's users while protecting national security interests," the statement said. "To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety and combating disinformation."
Microsoft said it "looked forward" to seeing how TikTok's service evolved in these "important areas".
ByteDance's rejection of Microsoft leaves Oracle as the sole known remaining bidder for TikTok.
More to come
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