What you need to know about Tiktok’s uncertain future in the United States and those who want to buy it

Tiktokowned by a Chinese company consolidation, it has been at the heart of US controversy for four years due to concerns about user data that the Chinese government may have access to. Just last month, the app experienced a temporary suspension in the US, leaving millions of users suspenseful before it was quickly restored.

Tiktok has returned to the App Store and Google Play Store February.

Nevertheless, Tiktok’s future remains uncertain, with many investors competing for the opportunity to buy the app. Platform US business can raise ratings $60 billionestimates by Angelo Zino, Senior Vice President of CFRA Research.

Tiktok Ban: What’s happened so far?

To fully understand this high-stakes drama, we first revisited the timeline of Tiktok’s turbulent relationship with the US government, bringing various legal battles and negotiations.

The drama first started August 2020when Trump signed an executive order to ban transactions by his parent company.

A month later, Trump’s administration attempted to force a US-based company to sell Tiktok’s US operations. Key candidates included Microsoft, Oracle and Walmart. However, US judges temporarily It’s blocked Trump’s executive order allowed Tiktok to continue operations while legal battles unfold.

Following the transition to the Biden administration, last year began to go further. US House of Representatives, The overwhelming 360-58 votespassed laws against Tiktok. April 23, 2024, The Senate passed the bill.

immediately, President Joe Biden It signed a bill requiring that Tiktok be sold or banned. In response, Tiktok sued the US governmentdisputing the constitutionality of the ban, claiming that the app and its American users are violating the initial right to revise. The company consistently denies that data stored in the US poses a security threat, as it claims to comply with all local laws.

Trump has a change of heart

December 27th, 2024, Trump Opposition Tiktok’s potential ban on court filings said he could find a way to maintain the app in the US.

January, US Supreme Court It protected Americans from the Foreign Hostile Application Act (PAFACA), commonly known as the “Tiktok Ban.” Tiktok officially announced that it would likely need to get dark on January 19th.

Tiktok shuts down…and then I’ll come back online

Tiktok certainly Shut down It didn’t last long in the US when this law came into effect. App I’ve returned online Within 12 hours. The platform said, “After President Trump’s efforts, Tiktok has returned to the United States.”

Where we are today

January 20thTrump has signed an executive order that postponed the tiktoc ban for 75 days. This extension will give the app additional time to sell shares on the platform or reach an agreement with Trump. His goal is to achieve a 50-50 ownership arrangement between bytedance and the US company.

recently, Early MarchTrump told reporters that his administration is in discussion with four different groups interested in purchasing the platform. All Reuters.

We haven’t yet reached a definitive deal on the platform sales, but we were able to find it soon.

Below is a list of investors groups and companies that are rumoured to be potential buyers of Tiktok’s US business. (Amazingly Elon Musk It’s not in it. )

People’s bids for Tiktok

People’s bids for Tiktok A consortium hosted by the founders of Project Liberty Frank McCourtHe is also the former owner of the Los Angeles Dodgers. Investment company Guggenheim Securities and law firm Kirkland & Ellis help collect bids. The main mission of people’s bidding to win Tiktok is to adopt an open source approach to prioritize privacy and data management.

The supporters involved are:

• Alexis Ohanian: Reddit co-founder Latest A tech entrepreneur who takes on the role of strategic advisor and participates in people’s bidding. He joined on March 3rd.

• Kevin O’Leary: Previously well-known investors and television personality I said Fox was willing to buy Tiktok for $20 billion. O’Leary Participation People’s bids on January 6th.
• Tim Bernersley: The inventor of World Wide Web supports Berners-Lee’s proposal, saying, “Your should have the ability to control your data.” I said In a statement.
• David Clark: Clark, a senior research scientist at the MIT Computer Science and Artificial Intelligence Institute, has also been appointed as participant.

American Investor Consortium

Jesse TinsleyCEO and founder of Employer.com, leads a consortium of American investors. Last month, Tinsley announced a $30 billion all-cash offer Acquire Tiktok’s US business.

• David Bassackie: Tinsley said Bloomberg Roblox must be co-founder and CEO.
• Nathan McCauley: The co-founder and CEO of Crypto Platform Anchorage Digital has been confirmed to be part of the consortium, Bloomberg reported.

Other stakeholders

• Bobby Cotic: That’s what the former CEO of Activision It is reportedly I’m interested in purchasing Tiktok. With his experience managing major gaming companies, his interest in apps could be driven by the possibility of integrating games and social media.
• Stephen Munichin: The former US Treasury Secretary, who served during President Trump’s first term, was Re-entering the country’s re-entry discussion Regarding the possibility of purchasing Tiktok.
• Oracle: The company previously bid for Tiktok in 2020. Oracle co-founder in front of the White House in January Larry Ellison 50% ownership told Trump.”It seemed quite a bit. “information It has been reported In March, the Oracle is the biggest option to serve as a cloud technology partner to help Tiktok operate in the US
• Walmart: It is also possible that retailers are focusing on Tiktok to enhance e-commerce reach, particularly considering the platform’s impact on consumer shopping behaviors. Walmart He first expressed his interest in 2020.
• Microsoft: The tech giant has before Showed interest in getting Tiktokand Trump said the company has recently rejoined a bid to buy the app.
• Rumble: YouTube alternatives Presented at x I want to get Tiktok and act as a cloud technology partner.
• Confusing AI: The AI ​​search engine startup submitted a bid last month. According to CNBC.

The story was updated after publication to include new stakeholders.