On August 27, CNBC reported that the sale of TikTok to a US company or consortium is planned to be announced within the coming days. So far, the sale price placed on TikTok is expected to be within the price range of $20 to $30 billion.

According to CNBC, TikTok has yet to decide who they are going with, but Microsoft and Oracle are two of the leading candidates who would be making the purchase a real thing. If this deal is solidified, the short-form platform will be split into regional clusters.

As explained by CNBC:

“TikTok is nearing an agreement to sell its US, Canadian, Australian and New Zealand operations in a deal that could be announced as soon as next week, sources say.”

Source – Social Media Today