TikTok will finally get a new buyer in the US. With a deadline fast approaching, several big companies including Oracle and Amazon are scrambling to take over the popular video app. If no deal is made, TikTok could face a ban in the US, leaving millions of users in limbo.
The top contenders
Amazon and mobile technology company AppLovin are the latest names to join the race to buy TikTok, according to the New York Post. They are competing with tech giant Oracle, which has been in talks with the U.S. government about taking control of the app’s data. Microsoft, which tried to buy TikTok in 2020, is also being mentioned again as a possible contender. Other interested buyers include Walmart, Rumble, Perplexity AI, and even YouTuber MrBeast.
Amazon reportedly aims to take over all of TikTok, but some sources suggest that other parties are not taking its offer seriously. Meanwhile, AppLovin has been actively discussing its bid and even reached out to billionaire Steve Wynn for support. The company claims it can handle national security concerns if it acquires TikTok.
The US government has set an April 5 deadline for TikTok to either be sold to an American company or face a ban. US President Donald Trump is personally involved in discussions, and he recently held a meeting with key officials to review an offer. If no deal is finalized by the deadline, Trump could extend the process by another month or more.
Why is TikTok being sold?
TikTok has always been on the radar of the lawmakers due to its connections to China. The app’s parent company, ByteDance, is based in China, and officials fear that American user data could be at risk. Although TikTok has denied these claims, reports have surfaced suggesting that the company mishandled data, including tracking journalists and storing financial information in China.
Because of these concerns, former President Joe Biden signed a law last year requiring TikTok to either be sold to an American company or be banned. Now, as the deadline nears, the pressure is mounting.
What happens next?
With multiple companies in the running, the fate of TikTok in the US remains uncertain. Will Amazon or Oracle come out on top? Could a surprise buyer emerge? And if no deal is made, will TikTok users in the U.S. really lose access to their favorite app?
One thing is clear—this is a high-stakes battle that will decide the future of one of the world’s most popular social media platforms.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
