History repeats itself, quickly it seems, as U.S. President Trump confirms that Microsoft is indeed in the running to buy TikTok.
Over the weekend, we shared reports that Microsoft and Oracle were both vying to lock down TikTok. The Chinese social media giant has valuation estimates anywhere up to $100 billion owing to its proprietary algorithm — which is notorious for its addictive quality. TikTok is the de-facto king of social media these days, as younger generations shun Facebook and even Instagram in recent years, opting for the frenetic video-first formula TikTok offers.
