Business
Microsoft’s offer to buy TikTok rejected – Sydney Morning Herald
Oracle is in the box seat to buy TikTok after Microsoft’s offer to buy the viral social media platform’s US operations was rejected by its Chinese parent company ByteDance.
TikTok features 15-second videos of users mostly lip syncing, dancing and performing comedic skits and the app’s popularity has soared during the COVID-19 pandemic with more than 2 billion downloads globally and an an estimated 1.6 million users in Australia.
Microsoft posted a statement on its website stating that ByteDance had let Microsoft know it would not be selling TikTok’s US operations to Microsoft.
“We are confident our proposal would have been good for TikTok’s users while protecting…
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