An investor group led by Project Liberty founder Frank McCourt has submitted a formal buyout offer for TikTok's U.S. operations ahead of the approaching divestment deadline.

The People's Bid for TikTok includes backing from major private equity firms, family offices, and high-net-worth individuals, with debt financing from a major U.S. bank. While the exact offer amount remains undisclosed, previous reports suggested capital commitments of around $20 billion.

Key aspects of the proposal:

• Built on an American-made tech stack
• Operates without TikTok's current algorithm
• Aims to prevent a platform ban while maintaining service for U.S. users

Current situation:

• ByteDance faces a January 19th ban deadline
• Supreme Court appears unsympathetic to TikTok's legal arguments
• President Biden could grant a 90-day extension
• President-elect Trump may revive the app after taking office

Market predictions vary significantly:

• Kalshi odds show 68% chance of a U.S. ban before May
• Evercore ISI estimates 20-25% chance of a ban being implemented

Several competitors, including Triller, are positioning themselves to attract users should TikTok face a ban. The outcome remains uncertain as multiple factors, including the presidential transition and potential regulatory decisions, could influence TikTok's future in the U.S. market.

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