Following recent reports from Microsoft on obtaining the TikTok microvideo creation app, facebook and Snapchat are reported to be in talks to win over TikTok’s rival Dubsmash, according to foreign media posted on Wednesday. The news comes from the reason that it comes after the resolution to ban TikTok on grounds of security threats due to alleged leaks of knowledge through the enterprise to the Chinese communist government.
Dubsmash reportedly approached via Facebook and Snapchat’s owner Snap Inc about a deal in recent weeks, adding that discussions included discussions about the deal worth heaps of millions of dollars.
However, a Snap spokesman refuted the news and said Snap admired the Dubsmash team but was not in active conversations for the acquisition, while Facebook reportedly said it would not comment on any market speculation.
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READ MORE Microsoft buys TikTok in the US, Canada, Australia and New Zealand
Amid the turmoil surrounding TikTok facing anger at accusations of leaking sensitive user data, Microsoft Corp showed earlier in August that it intends to purchase the TikTok service in the United States, Canada, Australia and New Zealand, leading the generation to own and operate. TikTok in those markets. Confirmation comes after Microsoft CEO Satya Nadella held talks with U.S. President Donald Trump, who expressed security concerns about the use of a China-based social media app.
Microsoft said in a statement that the company “fully appreciates” the importance of addressing concerns, adding that it has committed to obtaining TikTok “subject to a full security review.” It also pushes the desire to provide “adequate economic benefits” to the United States, the Treasury Department added.
According to some reports, the microblogging site Twitter had also expressed interest in obtaining TikTok’s operations in the U.S., however, it also reported that the deal would be less than likely to materialize as Twitter could not raise capital to pull through the deal. .
On August 6, Donald Trump signed an executive order prohibiting U.S. citizens and businesses from transacting with China-owned TikTok, its parent company ByteDance Ltd. and the WeChat messaging app after forty-five days. Trump has accused Chinese-owned applications of storing non-public information about U.S. citizens and sharing it with the Chinese Communist Party. Trump in his executive order said the actions were taken because the implementation threatened U.S. national security, foreign policy, and the economy.
TikTok said he was “shocked” by U.S. President Donald Trump’s executive order, and threatened to take legal action and take the case to court. TikTok accused the U.S. government of interfering in conversations between two personal corporations and also said that he had tried to interact in a smart religion with the administration, but it was to no avamony.
READ MORE China accuses U.S. Of ‘political manipulation’ after Trump TikTok’s order, WeChat
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