TikTok just ran out of tiktoks as the countdown ended for the app’s time in the U.S. In the early hours of January 19, the wildly popular short-form video app went dark.
The shutdown left me (and millions of other users) in shock as they were greeted with a message saying, “Sorry, TikTok isn’t available right now” or an image that I could not flick away. I don’t know what my 418 followers are going to do now. Seriously, the service is the drama of the moment, as the shutdown came after the U.S. Supreme Court denied an appeal by TikTok’s Chinese parent company, ByteDance, and upheld a law passed by Congress last year, which required ByteDance, to either divest TikTok or face a ban.
The law was driven by concerns over national security, with fears that the Chinese government could use TikTok to collect sensitive information on American users. Various politicians who were privvy to intelligence reports said it was credible that the Chinese government was using TikTok to spy on us.
But Donald Trump signaled that he may not enforce the ban and will likely let lit live another 90 days. Meanwhile, various parties are gathering to make bids to buy the ervice.
TikTok announced that it would voluntarily shut down its services rather than risk being forcibly removed from app stores and hosting services. The company’s CEO, Shou Chew, posted a video expressing gratitude to the users and promising to work towards reinstating TikTok. Sadly, the video isn’t available now. “This is not the end, but a new beginning,” he said with determination.
The shutdown sparked a scramble among TikTok users to move to other social media platforms where they mourned the loss of their favorite app. Many expressed their disappointment and frustration, while others shared memories of their favorite TikTok moments, and some even started online petitions to bring the app back. I posted the last of my CES 2025 videos there.
Among the prominent bidders is Oracle, a Silicon Valley giant known for its cloud computing services. Oracle saw the acquisition as a strategic move to expand its influence in the consumer market and gain access to TikTok’s cutting-edge technology. Larry Ellison, Oracle’s founder, was personally involved in the negotiations, emphasizing the importance of data security and transparency.
Microsoft, another major contender, had a different vision for TikTok. Satya Nadella, Microsoft’s CEO, believed that integrating TikTok with Microsoft’s existing suite of products could create a powerful ecosystem. He envisioned TikTok as a platform for educational content, virtual events, and more, appealing to a broader audience beyond entertainment.
Private equity firms also entered the fray, eyeing the opportunity to turn TikTok into an independent entity. Blackstone Group, one of the largest private equity firms in the world, proposed a deal to buy ByteDance and keep TikTok running with significant investment in data privacy and security measures. Their plan included appointing an independent board to oversee operations and ensure compliance with U.S. laws.
Venture capitalists also saw TikTok as a goldmine. Sequoia Capital and Andreessen Horowitz were among the firms interested in backing a consortium to acquire ByteDance. They believed that with the right management and investment, TikTok could continue its rapid growth and dominate the social media landscape.
President-elect Trump’s move to let the service go on for 90 more days was seen as a lifeline for TikTok.
“We are committed to protecting American interests while fostering innovation and growth,” Trump stated in a press conference.
Other investors bidding 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, known for his ownership of the Los Angeles Dodgers, plans to restructure TikTok and give users more control over their digital identities and data.
Famed Shark Tank investor Kevin O’Leary also joined forces with other investors to form a group that has secured commitments totaling more than $20 billion in capital. Their proposal focuses on transparency and data privacy.
Former Treasury Secretary Steven Mnuchin has also taken steps to purchase TikTok. Shortly after Congress passed the ban, Mnuchin announced the formation of an investor group to buy the social media company. And even Mr. Beast claimed to have spoken to some billionaires to pull a bid together.
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