Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Microsoft CEO says failed TikTok deal 'strangest thing I've worked on'

Stock MarketsSep 28, 2021 04:10
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Satya Nadella, Chief Executive Officer of Microsoft, gestures as he attends Microsoft's 'Young Innovators' Summit' in New Delhi, India February 26, 2020. REUTERS/Anushree Fadnavis/Files

By Paresh Dave

(Reuters) -Microsoft Corp's near-acquisition of social media app TikTok last year was the "strangest thing I've ever worked on," Chief Executive Officer Satya Nadella said on Monday.

TikTok had been ordered by then-U.S. President Donald Trump to separate its U.S. version from Chinese parent ByteDance because of national security concerns about the collection of U.S. users' data. Microsoft (NASDAQ:MSFT) in August 2020 began talks on the proposed acquisition but the deal collapsed by September.

Trump's divestment push ended by the time he left office in January and no potential suitor ending up acquiring TikTok.

Speaking at the Code Conference in Beverly Hills, California, Nadella said he was looking forward to bringing Microsoft's security, child safety and cloud expertise to TikTok.

"It's unbelievable," Nadella said of the experience during an on-stage interview. "I learned so many things about so much and so many people. First of all, TikTok came to us. We didn't go to TikTok."

"TikTok was caught in between a lot of things happening across two capitals," Nadella continued. "President Trump had a particular point of view of what he was trying to get done there, and then it just dropped off. The [U.S. government] had a particular set of requirements and then it just disappeared."

Nadella said what attracted ByteDance CEO Zhang Yiming to Microsoft was the U.S. company's services related to content moderation and child safety, developed through products included in Xbox video gaming tools and on business social network LinkedIn.

ByteDance did not immediately respond to a request for comment.

Nadella said he has no idea whether the U.S. is still pushing for a deal under President Joe Biden. The Biden administration has said it is reviewing the national security concerns https://www.reuters.com/business/retail-consumer/us-asks-court-dismiss-government-appeal-tiktok-ruling-2021-07-12.

"At this point, I'm happy with what I have," Nadella said.

He also expressed support for greater government regulation of cryptocurrency rules, which could stifle ransomware attacks since the ransoms often flow through opaque systems.

Microsoft CEO says failed TikTok deal 'strangest thing I've worked on'
 

Related Articles

Miners pull London's FTSE 100 lower; Unilever gains
Miners pull London's FTSE 100 lower; Unilever gains By Reuters - Oct 21, 2021

By Bansari Mayur Kamdar and Shashank Nayar (Reuters) -London's FTSE 100 index fell on Thursday, as miners dropped due to rising troubles in China's property sector and investors...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email