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What to know about TikTok’s uncertain future in the US and the people who want to buy it
- TikTok, owned by ByteDance, faced controversy in the U.S. over data privacy concerns, leading to potential bans and acquisition interests.
- Legal battles ensued in 2020 when Trump sought to ban transactions with ByteDance, but TikTok continued operating amidst the turmoil.
- Biden administration brought new developments as legislation against TikTok was passed and a potential sale was required.
- TikTok challenged ban constitutionality, asserting compliance with local laws and the protection of user data.
- Trump, in a surprising move, opposed the ban in late 2024, marking a shift from his initial stance.
- Despite potential bans, TikTok managed to come back online after brief shutdowns, buying time for negotiations and acquisitions.
- Investors, including Frank McCourt and a consortium of American investors, are vying to acquire TikTok’s U.S. operations.
- Companies like Amazon, Oracle, Walmart, and Microsoft are among potential buyers, with interest from notable personalities like MrBeast and Bobby Kotick.
- Various parties, including American Investor Consortium and The People’s Bid for TikTok, are in talks to secure a deal with TikTok.
- The future of TikTok in the U.S. remains uncertain, with ongoing negotiations and potential acquisitions shaping the app's fate.
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