Tomorrow is the deadline for TikTok’s Chinese parent, ByteDance, to sell the app to US entities or face a ban in the country. Yesterday, President Donald Trump said a rescue deal is nearly in place.
Speaking from Air Force One, Trump also said he would be willing to give tariff relief if China helps secure the deal without raising challenges.
His statement came as a group of heavyweight US investors—including Oracle, Blackstone and Andreessen Horowitz—pitched a plan to buy the app’s American assets. They have reportedly emerged as a top contender.
The proposal gives new US investors 50% ownership, existing investors 30%, and ByteDance just under 20%—satisfying a 2024 US law aimed at cutting Chinese control.
As the potential ban nears, several Silicon Valley firms are also racing to bid on TikTok.
- Amazon sent an offer letter to Vice President JD Vance and Commerce Secretary Howard Lutnick.
- Mobile technology company AppLovin expressed interest.
- OnlyFans founder Tim Stokely’s Zoop startup and cryptocurrency foundation Hbar teamed up to submit their late-stage bid.
Even if a deal is reached, larger security concerns loom. Any final agreement hinges on approvals from ByteDance and Beijing, and US law mandates that China can’t control TikTok’s core tech.