Update on the possible sale of TikTok in the US
Recently TikTok had stopped its services in the US, causing difficulties for many content creators. However, now it seems that TikTok may soon start working again in the US. President Donald Trump indicated at an event that talks are going on with four different companies to buy TikTok and the deal could happen soon. However, Trump did not reveal which company is going to buy this social media platform.
Threat of TikTok ban
At the beginning of the year, there was a possibility of a ban on TikTok. The US government had given TikTok time till January 19 to take some measures to avoid the ban. The company had an option that it could increase the stake of an American company in its platform. However, TikTok had decided to temporarily shut down its US operation even before the ban.
In view of this situation, President Trump has given TikTok an additional relief of 75 days, which can be extended till April 5. Trump said that this time limit can be extended further if needed, but he also expressed hope that the deal could be finalized this month itself.
Who are interested in buying TikTok?
Various companies and investors are showing interest in buying TikTok. Among them, the name of Project Liberty is prominently coming up. Recently, Reddit co-founder Alex Ohanian has also joined this group, which has increased the popularity of this group and investments have also started increasing. Apart from this, the name of famous YouTuber MrBeast has also come up among the potential buyers of this deal.
President Trump has taken a step in this direction and ordered the creation of a sovereign wealth fund, which aims to buy TikTok and bring it under the control of America. Elon Musk’s name was also coming up among the potential buyers earlier, but he has denied these rumors.
Obstacles in the sale of TikTok
However many companies are ready to buy TikTok, but it is still owned by the Chinese company ByteDance. ByteDance has not yet shown any particular interest in selling TikTok, and China does not seem keen on selling it either. Therefore, there are still some hurdles left regarding the sale of TikTok, which may hinder the deal from being finalized.
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