President Donald Trump confirmed Monday night that Microsoft is currently eyeing a potential acquisition of TikTok, which is the second time Microsoft has reviewed buying the social media superstar.
U.S. President Donald Trump says Microsoft is currently in talks to potentially buy social media superstar TikTok, marking the second time Microsoft has eyed the China-based company.
“I would say yes,” said Trump Monday night when asked by reporters if Microsoft was preparing to place a bid to buy TikTok.
President Trump added that “there’s great interest in TikTok” from several companies looking to buy the social media platform, which has about 170 million users in America.
It is key to know that Microsoft is already the owner of the popular social media and professional networking platform LinkedIn.
“[Microsoft] has nothing to share at this time,” said a Microsoft spokesperson in an email regarding the TikTok matter.
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TikTok did not immediately respond to CRN’s request for comment.
The social media application was temporarily shut down in the country for a short period following a law passed that required ByteDance—the Chinese owner of TikTok—to either sell the app due to American national security concerns or be banned in the U.S. on Jan. 19.
When Trump was sworn into office on Jan. 20, he signed an executive order that delayed the law for 75 days.
This week, Trump said he expects to make a decision on TikTok’s future within the next 30 days.
For the third-quarter calendar year 2024, Microsoft generated approximately $66 billion in revenue, representing a 16 percent revenue increase year over year.
Total operating income for the company was $24.7 billion, up 11 percent year over year.
Redmond Wash.-based Microsoft owns a slew of businesses, including the popular professional networking and social media platform LinkedIn.
In 2016, Microsoft acquired LinkedIn for $26.2 billion in cash.
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Microsoft Chairman and CEO Satya Nadella said when buying LinkedIn. “Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.”
LinkedIn continues to be one of the world’s largest and most popular professional network platforms.
Microsoft’s Previous Bid For TikTok In 2020
This isn’t the first time Microsoft has eyed buying TikTok, as the U.S. government has been demanding for years that ByteDance sell its U.S. operations.
In 2020, when TikTok’s popularity was on the rise during the COVID-19 pandemic, ByteDance sought out Microsoft as a potential buyer. Then-President Trump had told ByteDance it needed to sell its U.S. business or be shut down.
However, that deal ultimately fell through.
Nadella later confirmed the news and said the proposed deal was “the strangest thing I’ve ever worked on.”
Other Potential TikTok Buyers
Besides Microsoft, some of the most wealthy and powerful people in the world are seeking to buy the popular social media app.
Trump has said that Tesla CEO and social media owner of X (formerly Twitter) Elon Musk was eyeing an acquisition of TikTok. Musk has yet to comment on the matter.
Social media and Google’s YouTube superstar Mr. Beast, whose real name is James Donaldson, has said he is seeking additional investors to potentially buy TikTok.
Celebrity investor and Canadian businessman Kevin O’Leary, known for the television show “Shark Tank,” has also expressed his interest in buying TikTok.
Although not an acquisition offer, AI startup Perplexity AI recently made an offer to merge with TikTok.
