Twitter Held 'Preliminary Talks' About Acquiring TikTok's U.S. Operations

Amid an impending ban on U.S. operations of TikTok, Twitter has expressed interest in acquiring the service, according to a new report from The Wall Street Journal.



The report explains that it is not immediately obvious why Twitter is interested in purchasing TikTok, given the cost of acquisition and the need for substantial restructuring. Twitter's comparatively small size would, however, likely please antitrust investigators.

Twitter has a market capitalization of around $30 billion, which is almost as much as the valuation of TikTok's available assets, and would need to raise substantial additional capital. Twitter is therefore thought to be unable to finance a large enough bid to displace Microsoft as the front-runner, particularly before the deadline to complete a sale set out by President Trump.

Private equity company Silver Lake, a major Twitter shareholder, is said to be interested in helping to fund a deal. Twitter declined to comment to The Wall Street Journal.

In spite of the talks, Microsoft is still believed to be the front-runner in negotiations to purchase TikTok. Twitter has apparently made the case that its bid would be preferable to Microsoft's since it would not face any pressure from China since it has no current business in that country, unlike Microsoft.

The discussions between TikTok's Chinese parent company ByteDance and Microsoft are supposed to complete no later than September 15, and negotiations are still preliminary. Microsoft has said that it will not provide a further update until there is a definitive outcome.

Twitter previously acquired the short-form video sharing app "Vine" in 2012, but eventually closed the service four years later. TikTok operates similarly to Vine, and comparisons are often drawn between the services.

President Donald Trump signed two executive orders on Friday that set about banning any U.S. transactions with Chinese tech companies, and expressed his will to ban TikTok if it was not acquired by a U.S. company. TikTok is now reportedly planning to sue the Trump administration as soon as Tuesday, in a direct challenge to the president's executive order.

Note: Due to the political or social nature of the discussion regarding this topic, the discussion thread is located in our Political News forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Tags: Twitter, Vine, TikTok

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Globe Business intros KaPanda Plan 500 for foodpanda riders

Globe Business recently announced a partnership with mobile food delivery marketplace app foodpanda.

A new plan for foodpanda riders

KaPanda Plan 500

The partnership introduced a special postpaid line-the KaPanda Plan 500 which provides foodpanda riders access to unlimited calls and texts to all networks with a "sizable" data allocation.

The plan will allow foodpanda riders to access Roadrunner app. Roadrunner is the foodpanda delivery app used to receive customer's requests.

It'll also allow its users to access pandariders, Facebook community and Telegram channels for fleet updates, and Waze for easier GPS navigation.

Food delivery riders have displayed true heroism throughout the pandemic. Amid the risks, our KaPanda riders have relentlessly worked hard to provide communities with safe and convenient access to food, while ensuring their own families are taken care of, shared Jao Manahan, foodpanda Community & Communications Manager.

We wanted to ease their burdens by providing them with affordable customized postpaid plans that allow them to easily communicate and connect. We’re grateful for Globe’s commitment to helping us serve our fleet.

To read the full story and the statement of foodpanda riders, check our source link below.

Source: Globe

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Toshiba exits laptop market, sold the remaining stake to Sharp

Toshiba officially ended its laptop business on August 4 last week by transferring its remaining minority stake to Sharp. The move ended the company's 35-year run in the PC market.

Toshiba logo

Dynabook has become a wholly-owned subsidiary of Sharp

To recall, Toshiba sold 80.1 percent of its PC business to Sharp for 36 million. Sharp the rebranded the division to Dynabook. Back in June, Sharp exercised its right to buy the remaining 19.1 percent share.

When Toshiba sold its stake to Sharp two years ago, Toshiba's PC market sales has dropped from 17.7 million in 2011 to about 1.4 million in 2017.

In a statement, Toshiba said that Dynabook has become a wholly-owned subsidiary of Sharp.

Toshiba made its first PC laptop in 1985 - the T1100 with internal rechargeable batteries, a 3.5-inch floppy drive, and 246K of memory. It sold for USD 2,000.

Toshiba's success in the market was during the 1990s and early 2000s.

What do you guys think?

Via: The Verge

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