As reported by the South China Morning Post, the Chinese company is going to step up its legal battle against US president Donald Trump, who recently signed an executive order to have the short-form video app banned in the country. However, if Microsoft succeeds in securing a deal for TikTok US operations, Trump's demand will be voided.
When it comes to an agreement, it is believed by those with inside information that it is unlikely the big M will succeed in its attempts. It has been claimed that the American firm's first offer was essentially "robbing the owner when his house is on fire". Furthermore, it is even less likely that social media platform Twitter will have the funds behind it to close a deal.
ByteDance founder Zhang Yiming has considered his options, and given his choices are limited to either selling off part of his app to competitors or be forced out of the market, it makes sense that the exec take a stand against the bullish behaviour of Trump.
"Yiming's dream is to create a global business. But if he is set to lose TikTok in the US market either by selling it to a potential competitor or a forced exit, he will have nothing else to lose. Of course, he will try every possible way to fight back," said an insider.
Moreover, in China – where opinions on the US are unfavourable at best – the company is being criticised for not standing up for itself. Instead, it has been rolling over and accepting the orders of the US. In fact, ByteDance has earned "a nickname of Byte-kneel."
As it prepares for what is likely to be an impending ban, TikTok has begun to offer money back to advertisers due to not being able to uphold its commitments. However, should the company be able to complete outstanding ad campaigns, it will do so.