The Chinese company behind TikTok offered the White House a last-minute deal to prevent a US ban of the app, after President Trump announced plans to block it late Friday night.
The social network, controlled by a company called ByteDance, is enormously popular in the United States with more than 80 million daily active users. But there have been growing fears the company could become a front for Chinese spying efforts.
Under the terms of the new offer, ByteDance said it would completely divest itself from the US operations of the app, Reuters reported Saturday. The offer is a concession for the company, which had previously hoped to keep a minority stake in local TikTok operations. Under the new deal, the company would exit completely and turn over 100 percent control of the app’s US wing to Microsoft.
https://nypost.com/2020/08/01/bytedance-offers-to-sell-tiktoks-us-operations-as-ban-looms/