Fortune appears to be smiling at TikTok as they may not sell out after all.
This comes as good news to the company after experiencing a hard time with the U.S government.
According to a Wall Street Journal report, TikTok is in negotiations with the U.S government.
The conversation is centered around convenient agreements that would keep TikTok from selling out totally.
The arrangements would stop the full sale of the company in the U.S.
Taking this step is relevant to the company because of its 100 million monthly users in the country.
It would also reduce further speculation of what U.S franchise would purchase the company.
American companies still retain the hots for buying TikTok
Regardless of this, the reports state that TikTok still has a lot of suitors among American companies.
If all goes well for TikTok, they’d still have the power to restructure their algorithms.
This also increases their possibility of finding favour with the U.S government.
Tracing it back
Business Insider: TikTok vs Trump
The conversation of TikTok selling out began in July.
This was even before Donald Trump threatened to ban the platform in the U.S.
Where things remain unclear is why the Trump administration has so much power to dictate such a ban on the platform.
As September 15th draws near, it’s bringing with it a lot of worries.
Why? Trump gave that date as a deadline for TikTok to sell to Microsoft.
ALSO READ: Trump Continues to Pressure TikTok’s Parent Company, ByteDance, into Selling the Video App
The Back and forth of the Trump Administration
Getty Images: TikTok Installation
Trump also made a deadline date for September 20th.
By that date, Trump ordered that no transaction between TikTok and Americans should be made.
However, another law was put in place, extending the timeline.
The deadline for the final closure of the TikTok deal would be by November 12th.
Who are TikTok’s potential buyers?
Microsoft, Potential Buyer for TikTok
A lot of attractive names appear to be interested in the purchase of the company.
Microsoft, Oracle, Walmart, and SoftBank are displayed as potential buyers.
ALSO READ: Microsoft Encounters Technical Difficulties In Trying To Separate TikTok From Its Chinese Owner
The purchase might be competitive
It appears that potential buys are in competition with each other.
The CEO of ByteDance is interested in the joint purchase of the company by Microsoft and Walmart.
While Oracle has the backing of the Trump Administration.
They also have the support of some of the U.S ByteDance investors.
Nonetheless, China has put new regulations in place.
The law would restrict all exportation of Artificial Intelligence technology.
Companies in China would be required to get approval from the government to trade.
To an extent, this law might favour TikTok.
The regulation would hinder TikTok from exporting its AI algorithm.
Such as it’s “For You” feeds for its videos.
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