In August, President Donald Trump signed an order banning TikTok from the US. The one means the social community can work in the US is the acquisition of the Chinese language software by an American firm.
Since signing Trump’s order, TikTok has been in talks with corporations like Microsoft. The US President ordered that the deal must be accomplished by September 20.
Reuters reported on Friday that regardless of ongoing negotiations, officers in Beijing consider the pressured sale would make each ByteDance and the Chinese language authorities look like underdog opponents.
Sources informed the company that China is contemplating utilizing know-how export restrictions to delay any choice. TikTok, in flip, informed Reuters that the corporate didn’t discover the stress from Beijing.
When requested by reporters about TikTok and the upcoming ban, Chinese language Overseas Ministry spokesman Zhao Lijian mentioned Trump is abusing the idea of nationwide safety to oppress international firms.
In August, TikTok filed a lawsuit with the Trump administration, citing an absence of due course of. Additionally a few days in the past, rumors started to floor that ByteDance was in talks with the US authorities to keep away from a full sale.
Regardless of various measures, ByteDance continues to be in talks with US firms for a sale. Some probably candidates embody Oracle, or the Microsoft-Walmart partnership.
TikTok August income fell 14% MoM – nonetheless very worthwhile
In line with the newest statistics from Sensor Tower, TikTok’s August world income fell loads from the earlier month. According to the report, regardless of the autumn, TikTok is nonetheless the world’s highest non-gaming app. The info reveals that TikTok’s whole income within the Apple Retailer and Google Retailer exceed $88.1 million in August. It is a 14% lower from the earlier month’s $102 million. The figures for the applying from April to June this yr are $78 million, $95.7 million, and $90.7 million respectively.
As well as, about 85% of TikTok’s August income got here from China (TikTok), whereas income from the US accounts for less than 7.8% of the entire. Moreover, the Turkish market accounts for about 1.4%.
TikTok’s market share within the US can be shrinking considerably as a result of US ban. In January this yr, TikTok accounted for about 76% of installations, and the remaining apps within the high 5 accounted for 24% of whole installations. Nevertheless, by August, the market share of Bytedance’s 4 greatest rivals has climbed to 44%, whereas TikTok’s market share shrank by 20%.
At current, TikTok’s foremost competing apps within the US market are Triller and Likee. The 2 apps have been among the many high apps within the US since January this yr. Amongst them, Triller has received the presence of US President Trump.