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Posted: 2020-08-01 9:00:20

Newest development: ByteDance to sell 100% of US TikTok to Microsoft (prev BD wanted to keep 49%). This makes MSFT an immediate top competitor in both digital ads + ecommerce, could help appease current anti trust issues https://t.co/xPFcjLybU0

“ Under ByteDance’s new proposal, Microsoft will be in charge of protecting all U.S. user data”

From Turner Novak (@TurnerNovak) at (ecommerce OR shopify OR dtc) min_faves:10 min_replies:2 min_retweets:2 lang:en Twitter Alert
Originally published 2020 08 01
ByteDance was previously seeking to keep a minority stake in the U.S. business of TikTok, which the White House had rejected. Under the new proposed deal, ByteDance would exit completely and Microsoft Corp would take over TikTok in the United States, the sources said. Some ByteDance investors that are based in the United States may be given the opportunity to take minority stakes in the business, the sources added.
ByteDance was previously seeking to keep a minority stake in the U.S. business of TikTok, which the White House had rejected. Under the new proposed deal, ByteDance would exit completely and Microsoft Corp would take over TikTok in the United States, the sources said. Some ByteDance investors that are based in the United States may be given the opportunity to take minority stakes in the business, the sources added.
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Tags:immediate top competitors,newest development,us tiktok,turner novak,trust issuesreuters.com/article/us-usa,digital ad,prev bd,ecommerce,msft,bytedance

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