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The clouds hovering over the future of TikTok have not yet completely cleared. Regarding its sale, President Donald Trump stated that he is in talks with four groups.
The future of TikTok in America has not yet been decided. If its parent company, ByteDance, wants to continue its operations in the U.S., it will have to be sold to an American company. President Trump has mentioned that discussions are ongoing with four groups interested in buying TikTok. All four groups are keen on acquiring the platform.
TikTok has been banned once.
TikTok was briefly banned in the U.S. for a few hours. However, President Trump lifted the ban and gave the company some time to resolve the issue. Since then, Trump has remained very active in the matter. Recently, Trump was asked about the TikTok deal, and he responded that it could happen soon. He said, “We are in discussions with four different groups. Many people want to buy it, and it is all up to me. All four groups are good.” However, he did not reveal the names of the interested buyers.
These groups are among the potential buyers.
Several names have emerged as interested buyers of TikTok. According to reports, Microsoft, Oracle, and a group involving Mr. Beast are considering bids. In addition, real estate and sports tycoon Frank McCourt’s Project Liberty has started a campaign called ‘The People’s Bid for TikTok’ to buy the platform. Currently, these four groups are still in the running.
Why is TikTok being sold?
TikTok has been accused of storing data from its American users on Chinese servers. According to Chinese laws, the government there can access this data. The U.S. government fears that American citizens could be spied on through this data access.
