Google Parent Company Alphabet Part of Bid for TikTok: Report
According to the report, Alphabet considered a minority, non-voting stake through one of its investments.
Google parent company Alphabet considered participating in a group bid for the popular short-form video company, TikTok, reported Hindustan Times.
According to the report, Alphabet considered a minority, non-voting stake through one of its investments. The bid eventually fizzled out but the company has not ruled out participating in future bids.
The report further states that Alphabet was the not the company to take the initiative but is not aware of which US company took the first step to initiate a group bid proposal.
TikTok to Take Legal Action Again Trump Over US Ban
United States President Donald Trump on Friday, 14 August, asked TikTok parent company, ByteDance, to divest the US operation of the app within 90 days, citing national security reasons.
On 23 August, TikTok announced that it is set to take legal action against US President Donald Trump over a ban on the app imposed by him.
TikTok says it has tried to engage with the administration for nearly a year but has encountered a lack of due process.
“To ensure that the rule of law is not discarded and that our company and users are treated fairly, we have no choice but to challenge the executive order through the judicial system,” a statement by the company read.
TikTok has nearly 80 million monthly active users in the US, with many relying on the platform to build a career on social media.
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