TikTok has swiftly dismissed recent reports suggesting the platform might be sold to tech entrepreneur Elon Musk ahead of a January 19 ban in the U.S. The video app labelled the claims “pure fiction.”
The statement from the social media giant following widespread speculation fuelled by an ongoing lawsuit filed by the U.S. government against the video-sharing platform.
Read also: U.S. Supreme Court to hear TikTok’s appeal against ban before January 19 deadline
TikTok denies Elon Musk acquisition rumours
The rumours, which began circulating online and in media outlets, suggested that TikTok’s parent company, ByteDance, was considering selling the popular short-video platform to Elon Musk, CEO of Tesla and SpaceX. However, TikTok has categorically denied these claims, stating that there is no basis for such discussions.
TikTok did not immediately issue a direct statement but was cited by Variety as saying: “We can’t be expected to comment on pure fiction.”
Bloomberg News reported on Tuesday that Chinese officials have discussed allowing the sale to the Tesla and SpaceX CEO to avoid a ban scheduled to take effect on Sunday unless China-based owner ByteDance sells off TikTok’s US operations.
Reasons behind TikTok acquisition speculation
The speculation appears to have stemmed from Musk’s recent forays into social media following his acquisition of Twitter (now X) and ongoing efforts to reshape the platform. Industry observers speculated that Musk might seek to expand his influence in the social media space by acquiring TikTok, known for its massive global user base and cultural impact.
Some analysts suggested that such a move could align with Musk’s vision of integrating AI and advanced technologies into social platforms. However, TikTok’s outright denial has put an end to these theories, at least for now.
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TikTok’s commitment to growth
TikTok continues to focus on its growth and innovation strategies. The platform has been investing heavily in AI-driven content curation, e-commerce integrations, and new features to enhance user engagement. Its popularity among younger audiences and creators positions it as a dominant player in the social media landscape.
TikTok’s response underscores its commitment to independence and dispels any misconceptions about its future ownership. As the company moves forward, it remains focused on enhancing its platform while navigating the challenges of operating in a competitive and dynamic digital landscape.