Apple has no plans to pursue TikTok, despite report it expressed interest

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By Stephen Warwick
published

Tim Cook
Tim Cook (Image credit: Apple)

Update, August 4 (11:10 am ET): In a statement to The Verge, an Apple spokesperson said that the company has no plans to purchase TikTok. The original story follows.

What you need to know

  • Microsoft might not be the only party interested in TikTok.
  • Axios reports that Apple has also expressed interest.
  • If anyone has the money, it's Apple.

A new report from Axios claims Apple has expressed interest in buying TikTok.

See more

According to the report:

Multiple sources tell me that Apple has expressed interest, albeit no sources inside of Apple, and that at least one other strategic has expressed interest. Yes, it would be an unusual deal for Apple, given that TikTok is a cross-platform app, and a bigger political headache than Tim Cook may want (both here and in China). But if anyone has the cash on hand...

Recently, it was thought Microsoft was the only big buyer in the mix, and President Trump has given the company 45 days to get a deal done. The news doesn't come from a source within Apple, but reportedly from "multiple" other sources.

According to the report, other private equity firms are currently circling, and it was recently reported that ByteDance investors had expressed interest themselves. According to that report, TikTok is valued at $50 billion.

President Trump has reiterated that the U.S. Treasury "would need to get a portion of the sale price of TikTok, as a condition of regulatory approval" and has threatened to ban the app if the sale doesn't go through. Such an ultimatum is likely to dent TikTok's value somewhat, which might be forced to push through a quick sale for less money if it isn't to risk seeing its U.S. presence disappear.

According to ByteDance CEO Zhang Yiming, the company believes President Trump's "primary goal" is the banning of the app, not its sale.

Stephen Warwick
Stephen Warwick
News Editor

Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.

Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9