TikTok<\/a>, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data potentially being accessed by the Chinese government. <\/p>\n Earlier this year, the app experienced a temporary outage in the U.S. that left millions of users in suspense before it was quickly restored. TikTok returned to the App Store and Google Play Store<\/a> in February.\u00a0<\/p>\n A number of investors are competing for the opportunity to purchase the app, and if a deal were to go through, the platform\u2019s U.S. business could have its valuation soar to upward of $60 billion<\/a>, as estimated by CFRA Research\u2019s senior vice president, Angelo Zino. <\/p>\n Following extensive discussions and after Trump extended the TikTok ban deadline for the fourth time, it seems that progress has been made. This week, a \u201cframework\u201d deal <\/a>was reportedly established between the U.S. and China, with new information revealed<\/a> indicating that a consortium of investors, including Oracle, Silver Lake, and Andreessen Horowitz, may oversee TikTok\u2019s U.S. operations.<\/p>\n To fully understand this high-stakes drama, we\u2019ll first revisit the timeline of TikTok\u2019s tumultuous relationship with the U.S. government, which resulted in various legal battles and negotiations.\u00a0<\/p>\n The drama first began in August 2020<\/a>, when Trump signed an executive order to ban transactions with parent company ByteDance.\u00a0<\/p>\n A month later, Trump\u2019s administration sought to force a sale of TikTok\u2019s U.S. operations to a U.S.-based company. The leading contenders included Microsoft, Oracle, and Walmart. However, a U.S. judge temporarily blocked<\/a> Trump\u2019s executive order, allowing TikTok to continue operating while the legal battle unfolded.\u00a0<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span> Things began to progress even more last year following the transition to the Biden administration. The U.S. House of Representatives, in an overwhelming 360-58 vote<\/a>, passed the legislation against TikTok. On April 23, 2024,<\/a> the Senate passed the bill.<\/p>\n Shortly after, President Joe Biden<\/a> signed the bill requiring TikTok to be sold or banned. In response, TikTok sued the U.S. government<\/a>, challenging the constitutionality of the ban and arguing the app and its American users were having their First Amendment rights violated. The company has consistently denied that it poses a security threat, asserting that its data stored in the U.S. complies with all local laws.<\/p>\n On December 27, 2024, Trump opposed<\/a> the potential ban of TikTok in a court filing, stating he could find a way to keep the app in the U.S. This stance was a stark contrast to his approach during his first presidency and presented a surprising turn of events for TikTok.<\/p>\n In January, the U.S. Supreme Court <\/a>upheld the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), commonly referred to as \u201cthe TikTok ban.\u201d TikTok made a formal announcement that it would likely have to go dark on January 19.\u00a0<\/p>\n Although TikTok indeed shut itself down<\/a> in the U.S. when the act came into effect, it didn\u2019t last long. The app came back online<\/a> less than 12 hours later. The platform noted, \u201cAs a result of President Trump\u2019s efforts, TikTok is back in the U.S.\u201d<\/p>\n On January 20<\/a>, Trump signed an executive order that postponed the TikTok ban for 75 days. This extension provides the app with additional time to either sell a stake in the platform or reach an agreement with Trump. His goal is to achieve a 50-50 ownership arrangement between ByteDance and a U.S. company.<\/p>\n In early March<\/a>, Trump told reporters that his administration was in talks with four different groups that are interested in buying the platform, per Reuters<\/a>. More recently, The Information <\/a>reported that Trump intends to announce TikTok America, a company backed by American investors that owns around 50% of U.S. operations. ByteDance would reportedly own 19.9%.<\/p>\n As of now, no definitive deal has been reached yet for the sale of the platform, but we could find out very soon. <\/p>\n Below is a list of the investor groups and companies rumored to be potential buyers of TikTok\u2019s U.S. operations. (Surprisingly, Elon Musk<\/a> is not among them.)\u00a0<\/p>\n The People\u2019s Bid for TikTok <\/a>is a consortium organized by Project Liberty founder Frank McCourt<\/a>, who is also the former owner of the Los Angeles Dodgers. Investment firm Guggenheim Securities and the law firm Kirkland & Ellis are helping to assemble the bid. The main mission of The People\u2019s Bid to acquire TikTok is to prioritize privacy and data control, taking an open source approach.<\/p>\n Supporters involved include: <\/p>\n Jesse Tinsley<\/a>, the CEO and founder of Employer.com, is leading a consortium of American investors. Tinsley announced a $30 billion all-cash offer <\/a>to acquire TikTok\u2019s U.S. operations.<\/p>\nTikTok ban: What\u2019s happened so far<\/h2>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 27-29, 2025<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\nTrump has a change of heart<\/h2>\n
TikTok shuts down\u00a0\u2026 then comes back online\u00a0<\/h2>\n
Where we are today\u00a0<\/h2>\n
The People\u2019s Bid for TikTok<\/h2>\n
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![\"MrBeast\"](\"https:\/\/techcrunch.com\/wp-content\/uploads\/2023\/12\/GettyImages-1420812435-1.jpg?w=680\")
American Investor Consortium<\/h2>\n
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Other interested parties<\/h2>\n
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