Facebook, Snap mull Dubsmash acquisition as Microsoft plans to buy TikTok

After recent news reports of Microsoft planning to acquire micro-video making app TikTok, Facebook and Snapchat are said to be in talks to acquire TikTok's rival Dubsmash, according to international media reports on Wednesday. news hold significance as it comes after decision to ban TikTok citing security threats due to alleged data leaks by company to Chinese Communist government.

Dubsmash was reportedly approached by both Facebook and Snap Inc, owner of Snapchat, about a deal in recent weeks ding that talks included discussions of deal valued in hundreds of millions of dollars.

However, a Snap spokesperson has refuted news stating that Snap mires Dubsmash team but isn't in active talks for acquisition, according to reports, whereas Facebook has said it would t comment on any market speculation.

RE | Amid Microsoft Talks, Twitter Expresses Interest In Buying TikTok's US Operations

RE | Microsoft To Purchase TikTok In US, Cana, Australia, New Zealand

Microsoft plans to buy TikTok

Amid stir over TikTok which is facing wrath over allegations of leaking confidential user data, Microsoft Corp confirmed earlier in August intent to purchase TikTok service in US, Cana, Australia, and New Zealand, which will le to tech giant owning and operating TikTok in se markets.  confirmation comes after Microsoft CEO Satya Nella held talks with US President Donald Trump as latter raised concern over security arising out of use of China-based social media app.

Microsoft said in a statement that company “fully appreciates” importance of dressing concerns, ding that it is committed to acquiring TikTok “subject to a complete security review”. It also emphasised on providing “proper ecomic benefits” to US, including Department of Treasury.

According to some reports, microblogging site Twitter h also expressed its interest in acquiring US operations of TikTok, however, it was also reported that deal is less than likely to come to fruition since Twitter would t be able to raise capital to pull through deal. 

Donald Trump on August 6 signed an executive order banning American citizens and businesses from doing any transaction with Chinese-owned application TikTok, its parent company ByteDance Ltd. and messaging app WeChat after 45 days. Trump has accused Chinese-owned apps of storing personal data of American citizens and possibly sharing it with Chinese Communist Party. Trump in his executive order stated that se steps have been taken because application threatens national security, foreign policy, and ecomy of United States.

TikTok has said it was 'shocked' by executive order issued by US President Donald Trump and has threatened to take legal action and pursue matter in court. TikTok has accused US government of interfering in talks between two private businesses and also said that it tried to eng with ministration in good faith but all in vain. 

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