Kevin O’Leary’s $20B TikTok offer is rejected as ByteDance confirms it won’t sell the key technology behind the app’s success.
Kevin O’Leary says that he’s still interested in deal for TikTok, but that it’s no longer legally viable, even after Trump extended a ban on the platform.
TikTok’s attempts to blame the government are deceiving. The law is not an actual ban, and Congress gave TikTok a straightforward path to continue operating as it always has: Sever ties with the Chinese government, and the restrictions will be immediately lifted.
The TikTok ban won't be enforced until April, but there will be plenty of contentious negotiations between China, the U.S., and prospective buyers in the meantime.
Evan Feigenbaum of Carnegie Endowment for International Peace believes ByteDance and Chinese officials are unlikely to agree to a 50% U.S. ownership for TikTok, given the app's algorithm is an intellectual property regulated by Beijing.
Will TikTok find a U.S. buyer to remain legal? After Trump vowed to make a deal to save the app, MrBeast has emerged as part of a joint bid.
YouTuber MrBeast, X owner Elon Musk and Oracle Chairman Larry Ellison are names that have floated around in the past week.
As he promised Sunday, President Donald Trump on Monday signed an executive action that delays enforcement of the TikTok ban for 75 days.
Three days after ByteDance's TikTok went dark and then was quickly revived in the United States, users who deleted the app were anxiously checking iPhone and Android devices to find it still unavailable to be downloaded again.
Chinese authorities appear to be softening their stance on the fate of TikTok, possibly paving the way for Beijing-based ByteDance to begin talks with American investors, according to people familiar with the matter.
TikTok was banned in the US due to national security concerns over its Chinese ownership, prompting federal action requiring ByteDance to divest. As suitors are being lined up, the ByteDance-backed app will remain unavailable in Google and Apple app stores in the US.