TikTok faces multiple potential buyers as the app remains banned from major app stores following President Biden's federal ban in April 2024. The ban was recently upheld by the Supreme Court, with tech companies facing $5,000 fines per download after January 19.

Key potential buyers and developments:

• Jimmy Donaldson (MrBeast) expressed interest in purchasing TikTok to prevent its ban. While several billionaires have reached out to him, his spokesperson confirms no formal bid has been made yet.

• An investor group led by Jesse Tinsley is pursuing TikTok's U.S. operations with an all-cash offer.

• Billionaire Frank McCourt's Project Liberty consortium offers partial ownership, contingent on TikTok adopting their Decentralized Social Networking Protocol (DSNP).

ByteDance, TikTok's current owner, is exploring alternatives to selling. Board member Bill Ford stated at the World Economic Forum in Davos that they're seeking solutions that might involve "a change of control of some kind" while maintaining ByteDance's ownership.

The situation remains critical as Apple and Google have removed TikTok from their app stores to avoid potential fines under the new law, significantly impacting the platform's accessibility in the U.S. market.

Related Articles

Previous Articles