Microsoft is reportedly in talks to buy social app TikTok [CNBC]
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Source: CNBC
MicrosoftA TikTok acquisition could make Microsoft, a major provider of business software, more concentrated on consumer technology, which Microsoft has moved away from somewhat in recent years, by exiting the smartphone hardware, fitness hardware and e-book markets. Microsoft bought LinkedIn for $27 billion in 2016. In 2014, the company paid $2.5 billion to buy game developer Mojang, whose Minecraft game is popular among younger users who also make up TikTok's core audience in the U.S.Chinese company Bytedance launched TikTok in 2017. The app has grown more popular during the pandemic, with 2 billion downloads in April, according to Sensor Tower. Competitors includeFacebookSnapBytedance investors seeking to take over TikTok have valued it at $50 billion,ReutersThe rise of TikTok in the U.S. has brought the Trump Administration to scrutinize the app. Earlier this week Treasury Secretary Steven Mnuchinsaid"We're looking at TikTok, we may be banning TikTok, we may be doing some other th
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