Wednesday 23 September 2020
Home      All news      Contact us      Chinese
todayonline - 1 month ago

Facebook, Snap held talks to buy TikTok rival Dubsmash: Information

Facebook Inc and Snapchat owner Snap Inc held talks to buy Dubsmash, the Information reported on Wednesday, putting a spotlight on pop video apps at a time when Microsoft Corp is trying to workout a deal to buy rival TikTok. Facebook and Snap were no longer in deal talks, the report said. We admire the team but aren t in active talks to acquire, a Snap spokesman said. While Dubsmash was not immediately available for a reponse, Facebook said it would not comment on market speculation. The Dubsmash news comes days after U.S. President Donald Trump threatened to ban China s TikTok and prohibit transactions with its parent ByteDance, if it does not reach a deal with Microsoft to divest itself in 45 days. Trump has given Microsoft until Sept. 15 to put together a blueprint deal, which could safeguard the personal data of Americans stored on the app. Dubsmash was approached by both Facebook and Snap about a deal in recent weeks, the Information reported https://www.theinformation.com/articles/facebook-snap-held-talks-to-buy-tiktok-rival-dubsmash, citing a person familiar with the matter, adding that the talks included discussions of a deal value in hundreds of millions of dollars. Facebook is also facing antitrust scrutiny for acquiring former competitors, including photo-sharing app Instagram and messaging app WhatsApp. REUTERS


Latest News
Hashtags:   

Facebook

 | 

talks

 | 

TikTok

 | 

rival

 | 

Dubsmash

 | 

Information

 | 

Sources