TikTok's Current Situation

TikTok is currently available in the App Store and Google Play, but its future in the US is still uncertain. President Donald Trump's executive order delaying enforcement of the ban was only a temporary reprieve for the company.

ByteDance, the owner of TikTok, was once resistant to the idea of selling TikTok's US business, but that seems to have changed since Trump took office. A ByteDance investor said that striking a deal to keep TikTok in the US is "in everybody's interest." Officials in China also suggested they were "open" to a deal.

Potential Buyers

A number of people and companies have signaled some interest in TikTok. Trump himself has said he would like to see a "bidding war" for the app and that the US government should own a stake in the company.

Oracle is one of the potential buyers, with a plan to take control of the app's global operations. Microsoft is also reportedly interested in playing a role in TikTok's future. Other potential buyers include Perplexity AI, Project Liberty, and a group led by employer.com founder Jesse Tinsley.

Proposed Deals

Perplexity AI has proposed a deal that would create a new entity combining Perplexity, TikTok US, and New Capital Partners. The US government would own up to half of that new structure once it makes an initial public offering of at least $300 billion.

Project Liberty, led by investor Frank McCourt, has also proposed a bid to buy TikTok's assets. The group includes Kevin O'Leary of Shark Tank fame and Reddit cofounder Alexis Ohanian.

Uncertain Future

Despite the interest from potential buyers, TikTok's future in the US remains uncertain. The company has 75 days to come to an agreement, and it is unclear what terms both sides may actually agree on.