Microsoft Corp. in talks with outside investors for a possible TikTok bid
Microsoft Corp. is talking to outside investors that may potentially help the software company finance a bid for short video platform TikTok. Even though Microsoft has roughly $136 billion in reserves, it is looking to share the burden and risk with other stakeholders, people with direct knowledge told FOX Business.
TikTok, owned by Chinese parent company ByteDance, could be worth anywhere from $20 billion to $100 billion with some recent estimates suggesting it could sell for $50 billion. ByteDance is valued north of $100 billion and is considered the largest private company in the world.
TIKTOK COMPETITORS SEE SURGE IN DOWNLOADS AS MICROSOFT WEIGHS ACQUISITION
The Trump administration has been weighing TikTok's fate since last year, launching an investigation into the short video company amid fears that its Bejing-based parent ByteDance shares customer information with the Communist Chinese government.
ByteDance entered into talks about a month ago with Microsoft to buy TikTok's U.S. operations as a way to save the business from a decision by the administration that would prevent the popular app from being used by U.S. consumers.
GET FOX BUSINESS ON THE GO BY CLICKING HERE