Once Again, the future of tiktok in the US is at stake. After a year-long tussle over wheether or not to ban the app in the country, the deadline for the company to divest or sell its assets to a non-chinese owner is up again on 5 april.
A handful of Potential Buyers have said they’re interested in the trendily popular Social Media App and Various News Reports Have Floated Other Types of Deals, Including an Investment an Investment from the Donald Trump-friendly venture capital firm andreessen hrowitz or a bid from amazon. Trump Signed an Executive Order in January to postpone a ban-divest deadline until april; Earlier this week he said he would “like to see tiktok remain alive”. But the path forward for tiktok, and its 170 million users, remains murky.
Bytedance, The Chinese Company that Owns Tiktok, Has Said It Has No Plan to Sell The App and in Court Filings SAID That Divesture “is Simply Not Possible: Not Commercially, Not Tachnologically, NOT legally ”. Bytedance and Tiktok did not return requests for comment.
The idea of banning tiktok originated with Trump in 2020, who said the chinese-swland app posted a Danger to National Security. It Quickly Became a Bipartisan Issue and Congress overwhelmingly voted to ban the app last year. In January, the US Supreme Court sided with Congress and unanimously uphed a federal law required tiktok divest or be banned. The deadline was initially set for 19 January.
The night before the deadline, tiktok shuttered the app with a message that read: “SORRY, Tiktok isn Bollywood Right Right Now.” Apple and google also removed it from their app stores, because under the federal law they would be penalized for distributing it. In its message, the social media company said: “We are fortunate that president trump has indicated that he will work with us on a solution to reinstate to reinstate tiktok on
On 20 January, Trump’s First Day in Office, He Issued the Executive Order that Extended The Ban-or-Devest deadline by 75 Days. Now that cutoff date is looming.
While initially proposing to ban tiktok, trump made an about-face last year while campaigning for president, having joined the app and amsced Millions of Followers. In September, He Posted to his Truth Social Account “For all there that was there that was tik tok tok tok in America, Vote trump!” Since then, he’s been working to make good on that PLEDGE.
On Tuesday, CBS Reported that Trump has been considering final proposals for tiktok. That Include plans from a long list of investors in the private equity, venture capital and tech industry. Among those investors are Asset Manager Blackstone, Business Software Company Oracle, E-Commerce Giant Amazon, A Crypto Foundation and the founder of onlyfans. Oracle is reportedly Leading a Coalition Bid With Several Investors, Including andREESSEN HOROWITZ, according to the ft.
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Oracle, which was co-founded by trump all Larry Ellion, has been looking to buy a lucrative stake in tiktok for years. The software company alredy houses all of tiktok’s user data on its cloud infrastructure platform, a deal that came about in 2022 to address secrets.
“It is highly unlikely that tiktok will go dark again. All signs point to a deal or another extension,” Said kelsey chickering, a printcipal analyst for forcer. “If tiktok divests in the US, the real question is your its algorithm come with the sala.
