ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.
Chinese officials are reportedly exploring a backup plan for TikTok after the Supreme Court appeared unlikely to save it from a US ban. With TikTok’s legal options nearly exhausted, multiple news outlets are reporting that China is considering an option it previously said it wouldn’t: letting ByteDance sell the app.
Chinese government officials are reportedly mulling selling TikTok's US operations to Elon Musk to avoid a complete ban in the country.
Americans are going to lose access to TikTok in less than a week, unless China green-lights a sale to what Congress has deemed a non-adversary of the United States — something China is unlikely to do but might.
Musk acquired X (then Twitter) in October 2022 after a highly publicized back and forth, in which he gave up on the acquisition midway but ultimately closed the deal, paying $44 billion for the platform. X's user base has been on a decline since the acquisition, and advertising revenues have plummeted.
TikTok denied a report that China is exploring a sale of the app to Elon Musk to keep TikTok operational in America amid a looming U.S. ban.
The president-elect and Joe Biden are reportedly exploring legal avenues for keeping the app accessible. Meanwhile, a growing list of entrepreneurs are said to be weighing a buyout.
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Meanwhile, Vine was founded by Rus Yusupov, Colin Kroll, and Dom Hofmann in June 2012. It was an American short-form video hosting service and allowed users to share up to six-second looping video clips. Twitter (now X) acquired the application in October 2012 for $30 million.
Elon Musk, known for shaking things up across industries, has teased the possible return of Vine, the OG short-form video app that defined a generation of memes and