ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.
A looming ban on TikTok set to take effect on Sunday presents a multibillion-dollar headache for app store operators Apple and Google.
The platform is in need of saving in the United States, where approximately 170 million people have TikTok accounts. On Friday, the U.S. Supreme Court upheld a federal law that will ban the platform on Jan. 19 unless TikTok’s China-based owner ByteDance divests its U.S. operations.
Morgan Stanley notes recent news reports suggest both President Biden and President-elect Trump are interested in extending the upcoming
TikTok shut down U.S. operations Saturday night, complying with a U.S. law that banned the short video app, even as Donald Trump said a reprieve is "likely."
Morgan Stanley analyst Brian Nowak maintained a Buy rating on Amazon (AMZN – Research Report) today and set a price target of $280.00.Stay
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Updates: Supreme Court Backs Law Requiring TikTok to Be Sold or Banned
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Who could buy TikTok before Sunday? What to know after Supreme Court upholds ban
TikTok says it will 'go dark' unless it gets clarity from Biden following Supreme Court ruling
TikTok said it will have to “go dark” this weekend unless the outgoing Biden administration assures the company it won’t enforce a shutdown of the popular app after the Supreme Court on Friday unanimously upheld the federal law banning the app unless it’s sold by its China-based parent company.
TikTok is expected to cease operations at midnight, and it’s causing lots of confusion and concern for its users and content creators.>>> STREAM ACTION NEWS JAX LIVE [DOWNLOAD: Free Action News Jax app for alerts as news breaks]The app has around 170 million users here in the United States and many of them have used the platform for advertising and even for personal income.
Chinese merchants on TikTok are taking precautionary measures to prepare for a looming ban of the short-video app in the United States, including switching to competing platforms and focusing on other overseas markets.
TikTok CEO Shou Zi Chew thanked Donald Trump for his commitment to "finding a solution" that keeps TikTok available in the U.S. after the ruling.
“A few months ago I returned some stuff to Amazon, they refunded my money, everything was great. Fast forward three months, and all of a sudden, the money is getting taken out of my bank account again. They said that I didn’t send back the actual item that I sent something else back, which wasn’t true,” Azzolini explains.
The company is one of the app’s leading server providers, managing the data centers where billions of 40-second videos are stored.
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