TikTok just ran out of tiktoks as the countdown ended for the app’s lifespan in the United States. In the early hours of January 19, the popular short-form video app went dark.
The shutdown left me (and millions of other users) in shock when they were greeted with a message saying, “Sorry, TikTok is not available at the moment” or an image that I didn’t could not erase. I don’t know what my 418 subscribers will do now. Seriously, the service is the drama of the moment, as the shutdown came after the U.S. Supreme Court rejected an appeal from TikTok’s Chinese parent company, ByteDance, and upheld a law passed by Congress last year latest, which forced ByteDance to divest TikTok or face a ban.
The law was motivated by concerns over national security, with fears that the Chinese government could use TikTok to collect sensitive information about American users. Various politicians who were aware of the intelligence reports said it was credible that the Chinese government was using TikTok to spy on us.
But Donald Trump indicated that he could not enforce the ban and would probably let him live for another 90 days. During this time, various parties come together to make offers to purchase the service.
TikTok has announced that it will voluntarily shut down its services rather than risk being forcibly removed from app stores and hosting services. The CEO of the company, Shou Chewingposted a video expressing gratitude to users and promising to work towards TikTok’s reintegration. Unfortunately, the video is not available at the moment. “This is not the end, but a new beginning,” he said with determination.
The shutdown sparked a rush among TikTok users to move to other social media platforms where they mourned the loss of their favorite app. Many expressed disappointment and frustration, while others shared memories of their favorite moments on TikTok, and some even started online petitions to bring back the app. I posted the last of my CES 2025 videos there.
Among the leading bidders is Oracle, a Silicon Valley giant known for its cloud computing services. Oracle views this acquisition as a strategic move to expand its influence in the consumer market and gain access to TikTok’s cutting-edge technology. Larry Ellison, the founder of Oracle, was personally involved in the negotiations, emphasizing the importance of data security and transparency.
Microsoft, another major competitor, had a different vision for TikTok. Satya Nadella, CEO of Microsoft, believes that integrating TikTok into Microsoft’s existing suite of products could create a powerful ecosystem. He envisioned TikTok as a platform for educational content, virtual events and more, attracting a wider audience beyond entertainment.
Private equity firms have also entered the fray, considering the opportunity to spin off TikTok into an independent entity. Blackstone Group, one of the world’s largest private equity firms, has proposed a deal to buy ByteDance and keep TikTok running 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. laws.
Venture capitalists also viewed TikTok as a goldmine. Sequoia Capital and Andreessen Horowitz were among the companies interested in backing a consortium to acquire ByteDance. They believed that with proper management and investment, TikTok could continue its rapid growth and dominate the social media landscape.
President-elect Trump’s decision to let the service last another 90 days was seen as a lifeline for TikTok.
“We are committed to protecting American interests while fostering innovation and growth,” Trump said at a news 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 purchase ByteDance. McCourt, known for owning 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 secured commitments totaling more than $20 billion in capital. Their proposal focuses on data transparency and privacy.
Former Treasury Secretary Steven Mnuchin also took steps to buy TikTok. Shortly after Congress passed the ban, Mnuchin announced the formation of a group of investors to buy the social media company. And even Mr. Beast claimed to have spoken to billionaires to prepare a bid.
