Social media influencer MrBeast says he'd buy TikTok to keep it from being banned. Elon Musk reportedly is interested in buying the app as well.
ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.
As TikTok faces a potential ban, various bidders, including Elon Musk and Larry Ellison, are key contenders to buy the platform. Meanwhile, Netflix remains a possible option among streaming giants, though the company has not historically pursued major acquisitions.
A looming ban on TikTok set to take effect on Sunday presents a multibillion-dollar headache for app store operators Apple and Google.
TikTok’s Chinese owner, ByteDance, has 75 days to sell its US operations or face a ban. Potential buyers include Elon Musk and Larry Ellison.
TikTok CEO Shou Zi Chew thanked Donald Trump for his commitment to "finding a solution" that keeps TikTok available in the U.S. after the ruling.
“A few months ago I returned some stuff to Amazon, they refunded my money, everything was great. Fast forward three months, and all of a sudden, the money is getting taken out of my bank account again. They said that I didn’t send back the actual item that I sent something else back, which wasn’t true,” Azzolini explains.
Chinese merchants on TikTok are taking precautionary measures to prepare for a looming ban of the short-video app in the United States, including switching to competing platforms and focusing on other overseas markets.
An early payoff has already been scored by TikTok, the video-sharing app that spent months currying favor with the then-candidate Trump in hopes that if he won the election, he would help it survive a threatened shutdown.
ANALYSIS: The chaotic unbanning of TikTok signals a new political fusion between corporate power and American authoritarianism — and Silicon Valley stands eager to serve, writes Io Dodds
The platform is in need of saving in the United States, where approximately 170 million people have TikTok accounts. On Friday, the U.S. Supreme Court upheld a federal law that will ban the platform on Jan. 19 unless TikTok’s China-based owner ByteDance divests its U.S. operations.