President Donald Trump revealed on Sunday he is engaged in discussions with four potential buyers for TikTok’s U.S. operations, hinting that an agreement could be reached soon. Although he did not disclose the identities of the interested parties, Trump indicated that each option was favorable.
TikTok, a popular video platform owned by ByteDance Ltd., faces an April 5 deadline to finalize a deal for its U.S. business or face a ban under legislation passed during the Biden administration. The American market is TikTok’s most significant, given the app’s global valuation of up to $50 billion last year.
Trump mentioned last week the possibility of extending the deadline once more, though he expressed optimism about concluding a deal within the next month. He has previously delayed the original January 19 deadline, avoiding a prolonged shutdown, and has shown willingness to negotiate a sale. As part of the discussions, Trump has suggested that the U.S. government should acquire a 50% stake as part of any transaction.
ByteDance has not signaled a readiness to sell its U.S. arm; however, CEO Shou Chew met with Trump in December and attended the inauguration earlier this year. The company is attempting to ease national security worries among U.S. lawmakers to continue its operations domestically.
The Beijing-based company is repurchasing employee shares at a $312 billion valuation, reflecting confidence in its strategic expansion into e-commerce, which capitalizes on its popular video platforms. This marks a significant increase from just a year ago, despite ongoing uncertainties about its U.S. operations.
Currently, key investors like SoftBank Group Corp. value the company at more than $400 billion.
Meanwhile, regarding the potential sale, any transaction would require Chinese government approval, and Beijing’s stance has not been supportive thus far. There is speculation about potential buyers, including Elon Musk, though he has publicly denied interest.
Other public bidders include a consortium led by Frank McCourt and Reddit co-founder Alexis Ohanian, a group with tech entrepreneur Jesse Tinsley and YouTube star MrBeast, and a merger proposal from Perplexity AI in San Francisco. Oracle Corp., which has collaborated with TikTok on hosting U.S. user data, is also a potential name, linked to its founder Larry Ellison.
