TikTok is facing a possible ban in the United States if parent company ByteDance doesn’t sell the social media platform. Making that happen might be easier said that done, though.
The House of Representatives, on Wednesday, passed a bill mandating the sale of the app within six months. If ByteDance refuses, then TikTok would be removed from app stores and U.S. servers. The legislation faces a less certain road in the Senate, but President Joe Biden has said he will sign the bill if Congress passes it.
ByteDance, for its part, has shown no interest in divesting itself of its crown jewel—and CEO Shou Zi Chew, in a video message to users, posted on X/Twitter, vowed to launch a legal battle if the bill becomes law.
“We will not stop fighting and advocating for you,” Chew said in the video. “We will continue to do all we can, including exercising our legal rights to protect this amazing platform that we have built with you.”
Even if the company reversed that stance, it’s unlikely China would approve the move, as it would mean giving up a valuable tech asset—the algorithm that keeps users hooked. But that’s not stopping groups from declaring their interest in purchasing TikTok—nor preventing speculation from running amok.
“There are plenty of folks who are very interested in buying TikTok who are not already part of the social media tech elite who would be great candidates, and I hope that’s the outcome we get because it should be America owned,” said Reddit cofounder Alexis Ohanian on Instagram.
So who has declared interest in (or been mentioned as a possible contender for) becoming the new owner of TikTok? Here’s where things stand now.
