on-off talks between Microsoft and parent company of TikTok are back on again. Microsoft has been interested in buying part of TikTok for many months. tech giant has been in talks with parent company ByteDance Ltd. Discussions between the two companies came to halt last week when US President Donald Trump suggested that he might ban TikTok from USA. He was worried that personal details of over 100 million Americans could get into wrong hands. President Trump changed his mind at weekend after CEO of Microsoft phoned him. Microsoft said it "would ensure that all private data of TikTok's American users is transferred to and remains in United States."
TikTok is latest social media platform to become hugely popular around globe. Users upload very short videos of themselves lip-syncing to well-known songs, dancing, making funny faces or doing other humorous things. TikTok's owner ByteDance is Beijing-based Internet company founded in 2012 by Chinese entrepreneur Zhang Yiming. It now has over 800 million users worldwide. Microsoft is offering ByteDance $50 billion for operations in US, Canada, Australia and New Zealand. However business website Bloomberg disagrees with that valuation. It said: "The idea that TikTok - without UK, India or dozens of other emerging markets - is worth $50 billion today is fanciful.