AppLovin, Oracle, and Blackstone also reportedly in discussions
Why it matters: As ByteDance's April 5 deadline to divest TikTok or face a ban approaches, last-minute players have entered negotiations to potentially take over the U.S. operations of the popular social network. The Trump administration, which postponed the ban in January, is reportedly exploring several options to bring some or all of TikTok under American ownership.
WTF?! Do you have a phone with TikTok installed? Maybe you should consider selling it on an auction site like eBay, where people are taking advantage of the app's troubles by listing these handsets for comically expensive prices.
What just happened? It's been an eventful weekend for TikTok. US users found they were unable to access the app on Saturday, the day before the law banning it in the United States came into effect. But services were being restored on Sunday when President Donald Trump said he would sign an executive order to delay the ban, giving TikTok more time to reach a deal that will allow it to stay in the US.
In brief: News that TikTok could escape the US ban that will be introduced on Sunday has brought joy to the millions of people who use the app in the US. But it's unlikely that rival platforms, especially Meta, will be celebrating. It's estimated that Mark Zuckerberg's firm would bring in up to $3.38 billion from freed up ad revenue should TikTok disappear from app stores.
As TikTok faces a possible US ban in the coming days, RedNote has appeared as a possible alternative, offering a similar interface with some improvements like mixed posts that combine video, photo, and text in a single post.