TikTok’s Chinese parent company has just over two months to find a buyer for the app’s U.S. business or face a nationwide ban, after getting a time extension from U.S. President Donald Trump. There is already competition to own it.
Any purchase would have to satisfy the government’s national security concerns over its owner, ByteDance, and its ties to China. So far, the company hasn’t been able to solve that problem, and has been resistant to being acquired.
It’s taken so long to find a solution that the app almost was banned on Jan. 19, per U.S. law. Instead of enforcing the law, Trump issued an executive order delaying the ban and giving ByteDance 75 more days for a sale.
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