ByteDance thinks TikTok US would have been worth $200bn within a few years. Now it may have to sell for between $15bn and $40bn
the bosses of Alphabet, Amazon, Apple and Facebook endured a five-hour videoconference with a congressional subcommittee on antitrust. Satya Nadella, chief executive of Microsoft, America’s other technology titan, spent the day talking to investors, recruiting new hires and reviewing the latest quarterly numbers. His presence was not required—Microsoft no longer attracts the controversies that bring politicians running.
Other suitors may cut in. ByteDance’s venture-capital backers, most of whom are American, will try to flush out rival bidders. They are disappointed that ByteDance failed to head off TikTok’s political travails. The Chinese group should have spun off the American unit this spring, keeping a big minority stake, says an investor close to the firm.
TikTok would propel Microsoft into the social-media big league. That may be Mr Nadella’s strategic aim. Google, the main division of Alphabet, is challenging Microsoft in cloud computing and office software. Nabbing TikTok would be a counter-strike against Google’s YouTube, notes Mark Moerdler of Bernstein, a research firm. The app would also give Microsoft a trove of data on young people, putting it on a par with the likes of Snapchat and Facebook’s Instagram.
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