- ByteDance could circumvent the so-called TikTok ban in the US by selling its platform to a US-based company.
- Given TikTok’s value and the intervention of the Chinese government, finding a buyer will not be easy.
- But there are still those who throw their hat into the ring. Let’s see who showed interest.
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Buyers are starting to pick up the biggest items. — and the most geopolitically tense — Recent sales history.
The U.S. House of Representatives this week passed a bipartisan bill that would effectively ban TikTok in the U.S. unless parent company ByteDance can find a U.S.-based buyer within six months of enactment.
The bill still needs to pass the Senate and be signed by President Joe Biden, but all signs point to it likely passing.
The wildly popular social media platform’s U.S. operations are valued at between $35 billion and $40 billion, meaning finding a buyer with deep pockets will be a challenge. And with over 170 million users in the U.S. alone, companies like Meta, Google, and Microsoft may be the only ones providing funding, making any tech giant vulnerable to antitrust laws. are likely to face concerns.
And even if the bill passes, TikTok appears to be preparing for a legal battle. Users are already encouraged to call their local representatives to voice their opposition.
There is also a possibility that the Chinese government may intervene.
When lawmakers in Washington called for a sale of TikTok in 2020, China’s Ministry of Commerce said the government needed to approve it. According to the New York Times. China’s then-Foreign Minister Wang Wenbin also said that the United States “relies on hegemonic means when it cannot succeed through fair competition.”
Therefore, the prospect of TikTok being transferred to a US entity remains theoretical at best.
But that didn’t stop a few people from publicly expressing interest in purchasing the platform. Here’s a rundown of everyone vying to become TikTok’s next owner so far.