TikTok has announced its plans to cease operations in the United States by January 19, 2025, unless the Supreme Court intervenes to block or delay the impending ban.
President Joe Biden signed legislation into law, requiring ByteDance, TikTok’s parent company, to sell the platform to an American company by January 19 or face removal from US app stores and prohibition from internet providers.
The legislation was enacted due to concerns that China might utilize TikTok to spy on US residents. In response, TikTok has filed an emergency motion for an injunction, arguing that the ban violates the First Amendment and would result in substantial losses. The Supreme Court is scheduled to hear oral arguments on January 10 to determine whether the law should be upheld.
Several entrepreneurs, including Shark Tank’s Kevin O’Leary, have expressed interest in purchasing TikTok.
O’Leary emphasized that his bid is not just about acquiring TikTok’s US assets but also about protecting the privacy of 170 million American users.
He stated, “It’s about empowering creators and small businesses. And it’s about building a platform that prioritizes PEOPLE over algorithms. TikTok has immense potential, not just as a tool for creators but as a driver of meaningful economic and social impact.”
However, O’Leary acknowledged that he would likely require assistance from President-elect Donald Trump, who will take office on January 20. O’Leary explained, “Trump will be who we have to work with to close the deal in the months ahead. So, I wanted to let him know—as well as others in his cabinet—that we’re doing this, and we’re going to need their help.”
