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TikTok is facing an uncertain future in the US, with a potential ban expected on April 5. The app, owned by Chinese company ByteDance, has faced scrutiny for four years over concerns that user data could be accessed by the Chinese government.Soon after taking over from Joe Biden, US President Donald Trump had signed an executive order delaying an impending ban by 75 days, with the rider that the company would need to have US ownership if it wanted to continue operating in the country thereafter.
Trump also hinted at imposing tariffs on China if a US deal wasn’t approved.As the April 5 deadline approaches, here’s a look at the major contenders interested in acquiring TikTok’s US operations (with inputs from news site TechCrunch):Major interested buyers:Amazon: The ecommerce giant recently showed interest in purchasing TikTok.OnlyFans: A startup, Zoop, led by OnlyFans founder Tima Stokely and the Hbar Foundation (managing the Hedera cryptocurrency network’s treasury) wants to acquire the app.
Microsoft: Trump announced in January that Microsoft was in talks to buy TikTok’s US operations.Oracle: Having bid for TikTok in 2020, Oracle proposed 50% ownership to Trump and is now the leading candidate to support TikTok’s US operations as a cloud partner.Walmart: The retail giant sees TikTok as a way to boost its e-commerce presence, leveraging the app’s influence on consumer shopping habits.
Perplexity AI: The AI search engine startup submitted a bid last month, proposing to integrate its AI-driven search capabilities with TikTok.US investor consortium: Jesse Tinsley, CEO of HR company Employer.com, is leading a group of US investors with a $30 billion all-cash offer for TikTok’s US operations.
Notable members include YouTuber and investor Jimmy Donaldson (MrBeast), Roblox cofounder and CEO David Baszucki, and Nathan McCauley, CEO of crypto platform Anchorage Digital..
