Who may purchase TikTok as ban deadline looms? Amazon joins bidders

President Donald Trump has for a second time prolonged the deadline that might have required TikTok to be bought or face a ban within the US.

A bipartisan regulation handed by Congress final 12 months mandates TikTok’s Chinese language dad or mum firm, ByteDance, promote the app.

The platform ‘went darkish’ for a day in January within the US after the regulation took impact, till Trump intervened and delayed the ban till 5 April. He has now granted a one other 75-day extension till June dealer a deal.

The US authorities has stated TikTok poses a risk to nationwide safety as a result of Chinese language authorities may entry its huge trove of person knowledge, which Beijing denies.

Talking on Air Power One on Thursday, Trump stated “a number of traders” had been closing in on a deal.

He additionally recommended the US may supply a deal the place China agrees to approve a TikTok sale in change for reduction from US tariffs on Chinese language imports.

A number of potential patrons have cropped up in stories.

Amazon has put in a last-minute supply to the White Home to amass TikTok, in accordance with the BBC’s US accomplice CBS. Amazon declined to remark.

Trump has stated he could be open to promoting TikTok to Oracle co-founder Larry Ellison, in addition to Elon Musk, though the latter stated he had no intention of shopping for.

Different potential patrons embrace billionaire Frank McCourt, along with Canadian businessman Kevin O’Leary – a celeb investor on Shark Tank, the US model of Dragons’ Den.

Alexis Ohanian, who co-founded Reddit, stated in a publish on X final month that he had joined Mr McCourt’s bid.

The most important YouTuber on this planet Jimmy Donaldson – AKA MrBeast – has additionally stated he is seeking to purchase TikTok as a part of a gaggle of traders.

Tim Stokely, the British founding father of OnlyFans, has additionally to supplied to purchase TikTok underneath his just lately re-launched firm, Zoop.

Computing big Microsoft, non-public fairness big Blackstone, enterprise capital agency Andreessen Horowitz and search engine Perplexity AI are additionally reportedly within the operating for a stake.

The White Home has reportedly thought of an possibility whereby ByteDance would preserve possession of TikTok’s algorithm, however lease it to a brand new entity working the video-sharing app throughout the US.

If no deal is reached by 5 April, the app may as soon as once more face a US ban and be pulled from app shops.

Trump signed an government order in January, which solely delayed TikTok’s ban by 75 days.

His order didn’t overturn the ban on the app handed into regulation by Congress and upheld by the US Supreme Courtroom.

Trump may permit the regulation to face, however ask the Division of Justice to proceed to disregard it.

The federal government would successfully be telling Apple and Google they won’t be punished for permitting individuals to obtain TikTok on to their units.

TikTok returned to Google’s Play Retailer and Apple’s App Retailer in February, after the businesses had been reportedly informed they’d not face penalties for internet hosting it.

Trump has additionally stated he would “in all probability” prolong the deadline, if wanted.

TikTok says it has 170 million US customers who spent – on common – 51 minutes per day on the app in 2024.

Specialists say rivals corresponding to Instagram Reels and YouTube Shorts may gain advantage if Trump’s efforts to dealer a sale of TikTok do not succeed.

“Chief advertising and marketing officers who we have spoken with confirmed that they are going to divert their media {dollars} to Meta and Google if they’ll now not promote on TikTok,” stated Kelsey Chickering, an analyst at market analysis firm Forrester.

Different potential winners embrace Amazon’s Twitch, which made its identify by internet hosting livestreams – a preferred characteristic on TikTok. Twitch is well-known notably to players, although its different content material is increasing, too.

Different Chinese language-owned platforms, corresponding to Xiaohongshu – often known as RedNote amongst its US customers – have additionally seen fast progress within the US and the UK.

Further reporting by Liv McMahon & Imran Rahman-Jones