TikTok just ran out of tiktok as the countdown to the app’s availability in the U.S. ended In the early morning hours of January 19th, the hugely popular short-form video app went dark.
The shutdown left me (and millions of other users) shocked with a message that said “Sorry, TikTok is currently unavailable” and an image I couldn’t even flick through. I don’t know what will happen to my 418 followers. In all seriousness, this service closure means the U.S. Supreme Court has rejected an appeal by TikTok’s Chinese parent company ByteDance to sell TikTok to ByteDance or face a ban.
The law was driven by national security concerns that the Chinese government could use TikTok to collect sensitive information about U.S. users. Various politicians familiar with intelligence reports said it was credible that the Chinese government was using TikTok to spy on us.
However, Donald Trump has indicated that he may not enforce the ban and is likely to leave it in place for another 90 days. Meanwhile, various parties are gathering to bid to purchase the service.
TikTok announced that it would voluntarily suspend its service rather than risk being forced to remove it from app stores and hosting services. CEO of the company, Shochuposted a video thanking users and promising to work hard to revive TikTok. Unfortunately, that video is currently unavailable. “This is not the end, but a new beginning,” he said with determination.
The closure sparked a scramble among TikTok users to migrate to other social media platforms, mourning the loss of their favorite app. While many expressed disappointment and frustration, others shared memories of their favorite TikTok moments, and some even started online petitions calling for the app to be reinstated. I posted the last video of CES 2025 there.
Prominent bidders include Oracle, the Silicon Valley giant known for its cloud computing services. Oracle viewed the acquisition as a strategic move to expand its influence in the consumer market and gain access to TikTok’s cutting-edge technology. Oracle founder Larry Ellison was personally involved in the negotiations and emphasized the importance of data security and transparency.
Microsoft, another major competitor, had a different vision for TikTok. Microsoft CEO Satya Nadella believed that integrating TikTok with Microsoft’s existing product suite could create a strong ecosystem. He envisioned TikTok as a platform for things like educational content and virtual events that could appeal to a broader audience beyond entertainment.
Private equity firms have also entered the fray, seizing the opportunity to turn TikTok into an independent entity. Blackstone Group, one of the world’s largest private equity firms, has proposed a deal to acquire ByteDance and continue operating TikTok with significant investments in data privacy and security measures. Their plan included appointing an independent board of directors to oversee operations and ensure compliance with U.S. law.
Venture capitalists also saw TikTok as a goldmine. Companies interested in helping the consortium acquire ByteDance include Sequoia Capital and Andreessen Horowitz. They believed that with proper management and investment, TikTok could continue its rapid growth and dominate the social media world.
President-elect Trump’s move to continue the service for another 90 days was seen as a lifeline for TikTok.
“We are committed to protecting America’s interests while fostering innovation and growth,” President Trump said at a press conference.
Other investors who made bids for TikTok included Frank McCourt and his Internet Advocacy Group. The billionaire and his internet advocacy group have submitted a proposal to buy ByteDance. McCourt, best known as the owner of the Los Angeles Dodgers, plans to restructure TikTok to give users more control over their digital identity and data.
Prominent Shark Tank investor Kevin O’Leary also joined forces with other investors to form a group that secured more than $20 billion in total capital. Their proposals focus on transparency and data privacy.
Former Treasury Secretary Steven Mnuchin also bought TikTok. Shortly after Congress passed the ban, Secretary Mnuchin announced the creation of an investor group to buy social media companies. And even Mr. Beast claimed to have spoken to several billionaires to put together a bid.
