Why their is Bid on TikTok?
As we all know that the reason for Bid on TikTok is the ban from India and U.S, once TikTok was one of the most used social media app but after the ban from India & U.S Tiktok lost it’s about half of the users due to which Company has to face a huge loss.
The reason of TikTok ban
The reason for the TikTok ban in India and U.S is that it is handled by the Chinese company or we can say TikTok is a Chinese App. After the Corona Pandemic both the countries decided to Ban its Marketing with China and the TikTok App is one of the main Source of Bussiness with both the countries.
After the Ban from both Countries, TikTok has to face huge Loss which the Company Cannot bear anymore and the only way remain in front of the Company is that the App has to be sold.
Companies to be bid on TikTok
Microsoft is the first company that came in front to Buy TikTok through bid, twitter and Oracle had been also rumored to bid on TikTok.
Microsoft said that he would bid for American operations of TikTok which leads to cutoff Chinese Partnership with the App in America. In a statement given by Walmart that he is Confident to have Collaboration with Microsoft to bid on TikTok so that App can be used by Americans.
Good news for Indian Users
The good news for Indian users is that if the Bid happens and the other company that Chinese buy membership of the App then the App may be Unban by the government of India and the users will be able to use it like before they do, as now the money will not go to China whereas all the money now goes to the Microsoft and Walmart.
Reason for Delay of Bid
President Trump puts many conditions in front of the company. The president said that there would be an individual different TikTok app for America which American company owns.
The President also said that all the information of users will stay outside of China, in Virginia and backup will stay in Singapore.
TikTok took the time to respond to Trump’s conditions but later on agree.