TikTok has just run out of Tiktok as the countdown to the app’s time in the US comes to an end. In the early hours of January 19, the widely popular short video app disappeared.
The lockdown left me (and millions of other users) in shock as they were greeted with a message saying: “Sorry, TikTok is unavailable right now” or a photo I couldn’t remove. I don’t know what my 418 followers will do now. Seriously, the service is the drama of the moment, as the shutdown came after the US Supreme Court rejected an appeal by TikTok’s Chinese parent company, ByteDance, and upheld a law passed by Congress last year, requiring ByteDance to either divest TikTok or face a ban.
The law was motivated by national security concerns, with concerns that the Chinese government might use TikTok to collect sensitive information on American users. Several politicians familiar with the intelligence reports said it was plausible that the Chinese government was using TikTok to spy on us.
But Donald Trump has indicated that he may not implement the ban and will likely let the light live for another 90 days. At the same time, various parties gather to bid to purchase the service.
TikTok has announced that it will voluntarily shut down its services rather than risk being forcibly removed from app stores and hosting services. CEO of the company, Shu Qiua video expressing gratitude to users and promising to work to bring back TikTok. Unfortunately the video is not available now. “This is not the end, but a new beginning,” he said adamantly.
The lockdown sparked a scramble among TikTok users to move to other social media platforms as they mourned the loss of their favorite app. Many expressed their disappointment and frustration, while others shared memories of their favorite TikTok moments, and some even started online petitions to bring the app back. I posted my last CES 2025 videos there.
Notable bidders include Oracle, a Silicon Valley giant known for its cloud computing services. Oracle saw the acquisition as a strategic step to expand its influence in the consumer market and access TikTok’s advanced technology. Larry Ellison, founder of Oracle, personally participated in the negotiations, emphasizing the importance of data security and transparency.
Microsoft, another major competitor, has a different vision for TikTok. Microsoft CEO Satya Nadella believes that integrating TikTok with Microsoft’s existing product suite can create a powerful ecosystem. He envisioned TikTok as a platform for educational content, virtual events, and more, appealing to a broader audience outside of entertainment.
Private equity firms have also entered the fray, eyeing the opportunity to spin TikTok into an independent entity. Blackstone Group, one of the world’s largest private equity firms, has proposed a deal to buy ByteDance and keep TikTok running with a significant investment in data privacy and security measures. Their plan included appointing an independent board to oversee operations and ensure compliance with US laws.
Venture capitalists also saw TikTok as a goldmine. Sequoia Capital and Andreessen Horowitz were among the firms interested in backing a consortium to acquire ByteDance. They believed that with the right management and investment, TikTok could continue its rapid growth and dominate the social media landscape.
President-elect Trump’s move to allow the service to continue for another 90 days was seen as a lifeline for TikTok.
“We are committed to protecting American interests while promoting innovation and growth,” Trump said in a press conference.
Other investors who have made bids for TikTok include Frank McCourt and his Internet Advocacy Group. The billionaire and his internet advocacy group have made a bid to buy ByteDance. McCourt, best known for his ownership of the Los Angeles Dodgers, plans to restructure TikTok and give users more control over their digital identities and data.
Kevin O’Leary, the famous Shark Tank investor, also joined with other investors to form a group that received commitments totaling more than $20 billion in capital. Their proposal focuses on transparency and data privacy.
Former Treasury Secretary Steven Mnuchin has also taken steps to purchase TikTok. Shortly after Congress passed the ban, Mnuchin announced the formation of an investor group to buy the social media company. Even Mr Best claimed to have spoken to some billionaires to come up with an offer.