Tik Tok Goes Down on TikTok Early on January 19, the massively in style short-form video app went darkish because the countdown for the app’s time within the US ended.
The shutdown shocked me (and thousands and thousands of different customers) as they had been greeted with a message that mentioned, “Sorry, TikTok just isn’t obtainable proper now” or an image I could not shake. I do not know what my 418 followers are going to do now. Severely, the service is the drama of the second, because the shutdown comes after the US Supreme Court docket rejected an attraction by TikTok’s Chinese language mother or father firm, ByteDance, and upheld a legislation handed by Congress final yr, which ByteDance was required to both disconnect TikTok. Face the ban
The legislation was created resulting from nationwide safety considerations, with fears that the Chinese language authorities might use TikTok to gather delicate details about American customers. Numerous politicians who had been acquainted with the intelligence experiences mentioned that it’s believable that the Chinese language authorities is utilizing TikTok to spy on us.
However Donald Trump has signaled that he won’t implement the ban and would doubtless let it stay for an additional 90 days. In the meantime, varied events are gathering to bid to purchase the service.
TikTok introduced that it could voluntarily shut down its companies slightly than danger being forcibly faraway from app shops and internet hosting companies. The corporate’s CEO Shu Chiu posted a video thanking customers and promising to work to revive TikTok. What did Sadly, the video is not obtainable. “This isn’t the top however a brand new starting,” he mentioned with dedication.
The shutdown prompted a stir amongst TikTok customers to take to different social media platforms to mourn the lack of their favourite app. Many expressed their disappointment and frustration, whereas others shared reminiscences of their favourite TikTok moments, and a few even began on-line petitions to convey again the app. I posted my final CES 2025 movies there.
Among the many main bidders is Oracle, a Silicon Valley big identified for its cloud computing companies. Oracle noticed the acquisition as a strategic transfer to extend its affect within the shopper market and acquire entry to TikTok’s cutting-edge know-how. Oracle founder Larry Ellison was personally concerned within the negotiations, stressing the significance of information safety and transparency.
Microsoft, one other main contender, had a special method to TikTok. Microsoft CEO Satya Nadella believed that integrating TikTok with Microsoft’s current suite of merchandise might create a robust ecosystem. He envisioned TikTok as a platform for academic content material, digital occasions and extra, interesting to a wider viewers along with leisure.
Non-public fairness corporations additionally jumped into the fray, eyeing the chance to show TikTok into an unbiased entity. Blackstone Group, one of many world’s largest non-public fairness corporations, has proposed a deal to purchase ByteDance and run TikTok with vital investments in information privateness and safety measures. Their plan included appointing an unbiased board to supervise operations and guarantee compliance with US legal guidelines.
Enterprise capitalists additionally noticed TikTok as a gold mine. Sequoia Capital and Andreessen Horowitz had been among the many corporations keen on backing the consortium to amass ByteDance. He believed that with the suitable administration and funding, TikTok might proceed its speedy progress and dominate the social media panorama.
President-elect Trump’s transfer to increase the service for an additional 90 days was seen as a lifeline for TikTok.
“We’re dedicated to defending American pursuits whereas selling innovation and progress,” Trump mentioned at a press convention.
Different traders bidding for TikTok included Frank McCourt and his web advocacy group. The billionaire and his Web advocacy group have proposed shopping for ByteDance. McCourt, identified for proudly owning the Los Angeles Dodgers, plans to restructure TikTok and provides customers extra management over their digital identities and information.
Well-known Shark Tank investor Kevin O’Leary additionally shaped a bunch with different traders which have collectively invested greater than $20 billion. Their proposal focuses on transparency and information privateness.
Former Treasury Secretary Steven Mnuchin has additionally made strikes to purchase TikTok. Shortly after Congress authorized the ban, Mnuchin introduced the formation of an investor group to purchase the social media firm. And even Mr Finest claims he has talked some billionaires into pulling collectively a bid.
