President Donald Trump announced that discussions were ongoing with four potential buyers for TikTok’s United States operations, and a deal could be reached soon.
“We’re dealing with four different groups, and a lot of people want it,” Trump told reporters aboard Air Force One on Sunday, Bloomberg reported. However, he didn’t mention the name of those four potential buyers but noted that “all four are good.”
TikTok’s Uncertain Future: Sale Deadline Extended as U.S. Market Remains Key
TikTok’s future has been uncertain since a law was enacted on Jan. 19, requiring its owner, ByteDance, to sell the platform due to national security concerns or face a ban. After taking office on Jan. 20, Trump signed an executive order extending the deadline by 75 days before the law would be enforced.
The United States is TikTok’s most important market, while its parent company, ByteDance, runs a similar app called Douyin in China. Last year, TikTok’s U.S. operations were valued at up to $50 billion. Recently, Trump mentioned that he might extend the deadline again if needed but believed a deal could happen within a month.
Key Bidders Emerge in the Race to Acquire TikTok’s U.S. Operations
Several public bidders have emerged to buy TikTok’s United States operations. One group is led by billionaire Frank McCourt and Reddit co-founder Alexis Ohanian. Another includes tech entrepreneur Jesse Tinsley and YouTube star MrBeast.
A third bid comes from San Francisco-based Perplexity AI, which has proposed a merger. Trump has also mentioned Oracle Corp. founder Larry Ellison as a potential buyer, and TikTok has already partnered with Oracle to manage its U.S. user data.
ByteDance CEO Engages with Trump
ByteDance, based in Beijing, has not shown interest in selling its U.S. business. However, its CEO, Shou Chew, met with Trump at Mar-a-Lago in December and attended the inauguration earlier this year.
The company has been trying to address national security concerns raised by U.S. lawmakers so that it can continue operating in the country. ByteDance, a privately held company, is now valued at over $400 billion by major investors like SoftBank Group.
It also repurchases employee shares at a $312 billion valuation, reflecting confidence in its growth plans. The company is expanding into e-commerce by leveraging the popularity of its video platforms, despite ongoing uncertainty surrounding its U.S. operations.
