A January 19th deadline looms for the owners of the wildly popular Chinese social media app, TikTok, to find an American buyer. Should TikTok USA's sale fail to manifest, the app will be banned in the United States and blocked from receiving updates.w
Politicians on both sides of the aisle have grown increasingly skeptical of Chinese tech companies with access to Americans’ data. Therefore, it is not surprising that a social media app of Chinese origins with 170 million U.S. subscribers is in the crosshairs of Washington, D.C. TikTok, owned by Beijing-based ByteDance, is that company, and the clock is ticking on a TikTok USA ban.
As of January 19th, the day before President-elect Donald Trump takes office, the app will be considered non grata in the USA unless a TikTok sale announcement to an American buyer is made by the deadline. The major concern is that the company harvests billions of pieces of data on American citizens and companies alike that could be, or perhaps already have been, turned over to the Chinese government, potentially imperiling the United States national security.
However, Donald Trump has made it clear he would prefer to use diplomatic means to solve the TikTok USA ban and assuage the concerns of suspicious politicians and national defense officials. The incoming president has asked the Supreme Court to pause the January 19th deadline, and the nation's highest court is currently debating the legal merits of that request.
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We don’t know whether TikTok will be sold within the next few months. Yet, what has been reported is that the price tag for the US portion of the app, without any of TikTok’s proprietary technology included in the sale, is in the neighborhood of $20 billion. That’s one pricey neighborhood!
The folks at BetUS are monitoring this and many other current events that are part of the wagering menu at the most popular online gaming site in the world. So, whether sports fans are looking for an extensive sports betting menu or the most fascinating novelty props in the industry, then look no further than BetUS.
TikTok is a primary vehicle for social media influencers and boasts 170 million US subscribers, 1.5 billion monthly active users, and generated $16.1 billion in 2023. Even casual users can find what they are looking for as TikTok videos run the gamut from humor to beauty to fitness, and so much more. It has become a daily staple of the social media category, and its departure will leave a significant void.
The incoming Trump administration will likely have a major impact on whether it is allowed to proceed as is or if a sale will be required. Should an American buyer not be found, the app will slowly go dark as those who have the app will no longer receive updates and those who don’t will not be allowed to download it.
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