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Key Takeaways
- President Trump on Friday extended TikTok's deadline to be sold or face a ban in the U.S. by another 75 days.
- The social media platform had previously faced a Saturday deadline, after Trump extended it by 75 days in January.
- Amazon, AppLovin, and a group led by Oracle have been reported as bidders for the app in recent weeks.
- Trump reportedly met with advisors this week about a deal for TikTok.
President Trump extended the deadline for TikTok to be sold in the U.S. or face a ban by another 75 day on Friday. Social media platforms had a Saturday deadline before, but Trump extended it to 75 days in January.
“My Administration worked very hard to save TIKTOK and we made tremendous progress.” The Deal will require more work in order to ensure all approvals are signed. This is why I have signed an Executive Order that will keep TikTok running for 75 additional days.
The app, owned by Chinese social network company ByteDance has received bids in recent weeks from a variety of technology and entertainment companies. Trump told reporters this week that a deal is "very close" to being made, without specifying which is likely to buy TikTok, Bloomberg reported Thursday.
Who is in the running to buy TikTok?
In recent months, a wide range of potential purchasers have reportedly bid on TikTok. This includes Reddit co-founder Alexis Ohanian (RDDT) and “Shark Tank’s” Kevin O’Leary.
Amazon (AMZN), according to reports on Wednesday, has also made an offer. Meanwhile, AppLovin, a company that specializes in adtech, confirmed in a filing with the regulatory authorities its interest in acquiring TikTok’s non-China operations.
Reports claim that Trump and his advisors discussed options with a group led Oracle (ORCL) as well as venture capital firm Andreessen Horowitz this week.
It remains to see if the escalating U.S.-China trade war after the Trump Administration announced new tariffs last week will impact the Chinese government’s willingness to accept a deal.
Why Is TikTok Banned?
Trump had supported a ban of the app in his first term, with a bipartisan effort to ban it or force it to be sold to a U.S. company amid concerns that the Chinese government could access data about TikTok's 170 million American users, though the company has maintained the Chinese government does not have access to that data.
Joe Biden, the President of the United States, signed into law this ban in April last year. The law was upheld by court rulings and survived lawsuits. In January, the Supreme Court ruled that the Jan. 19, 2019 deadline could still be in place.
The app went black for U.S. users at around 11 p.m. ET on January 18, before restoring service several hours later, as Trump signed a executive order extending deadline by 75-days.
UPDATE—April 4, 2025: This article has been updated since it was first published to reflect Trump's deadline extension announced Friday.
