Update 09/14/2020 9:43am:

According to reports, Microsoft’s bid to purchase the social media powerhouse app Tik Tok was denied by parent company ByteDance. Microsoft revealed the information in a statement where they broke down the details.

Microsoft said, “ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft. We are confident our proposal would have been good for TikTok’s users while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas." Reports noted that ByteDance reportedly came to an agreement with the company Oracle, who is known for their software as well.

source: CNN

Original 08/03/2020 3:33pm:

Recently, TikTok responded to Trump’s threat to issue executive action to ban the app from the United States. Since then, reports surfaced saying Microsoft was currently in talks to purchase the app from the parent company ByteDance. Microsoft noted they wanted to complete discussions to make the purchase by September 15, but now Trump has set a deadline on that date.

Via a press conference, Trump claimed the issue surrounding TikTok is privacy, and that the United States cannot afford for TikTok users’ information to fall into the hands of China. Trump also noted that the U.S. side of TikTok cannot be controlled by China, but he would like to have an American company with a strong cybersecurity operation running in the country.

source: TMZ

Original 08/01/2020 5:45pm:

Previously, Trump announced he planned on signing an executive order to ban TikTok in America. Now, the general manager of TikTok, Vanessa Pappas has responded directed to the claim.

Via Instagram, Pappas said “I want to say thank you to the millions of Americans who use TikTok everyday bringing their creativity and joy into our daily lives. We've heard your outpouring support and we want to say thank you. We're not planning on going anywhere.

She also said “I also want to thank our 1,500 U.S. employees who work on this app every day and the additional 10,000 jobs that we're bringing into this country over the next three years." The announcement allegedly is in response to the users of TikTok who reportedly got tickets for his Tulsa rally in advance just to leave the seats empty.

Original 08/01/2020 1:17am:

According to reports, President Trump has announced plans to ban TikTok from the United States through an executive action that could happen as soon as Saturday. “As far as TikTok is concerned we’re banning them from the United States,” Trump said to reporters while on Air Force One. “Well, I have that authority. I can do it with an executive order or that,” he said. 

Trump's TikTok ban could also squash the potential Microsoft deal on the table for the software company to acquire the video platform. The Chinese company that owns TikTok, ByteDance, was in talks with tech giant prior to Trump's announcement. The president also made it clear that he isn't in favor of any U.S. corporation acquiring the video platform. “Not the deal that you have been hearing about, that they are going to buy and sell . . . and Microsoft and another one. We are not an M&A [mergers and acquisitions] country,” said the president. 

Source: cnbc.com