He has threatened to ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply. Chinese officials have said ByteDance should not be coerced by the United States into a deal. Concerned over ByteDance's lack of engagement, Microsoft asked the Chinese company whether it had lost out in the race for TikTok's U.S. business, one of the sources said. On Sunday, Microsoft announced ByteDance had rejected its bid to acquire TikTok's U.S. business. It is not clear what valuation this deal would infer for TikTok's U.S. business, which has as many as 100 million users.

Source: Standard Digital September 15, 2020 09:11 UTC