President Trump said negotiations are underway with multiple potential buyers of Tiktok's US business.
Trump told reporters on board Air Force 1 on Sunday that four different groups were discussing to win a popular video sharing platform.
“We deal with four different groups and a lot of people want that,” Trump said.
He did not specify a bidder's name or suggest any preferences, but said “all four are good.”
Tiktok, owned by Beijing-based Bytedance Ltd., faces an April 5 deadline, risks a nationwide ban under laws enacted during the Biden administration.
Several notable bidders reportedly appeared. Trump previously mentioned Oracle Corp. founder Larry Ellison as a potential player. Tiktok is already working with Oracle on hosting US user data.
The consortium, led by billionaire real estate magnate Frank McCourt and Reddit co-founder Alexis O'Hanian, is also a competitor.
Chinese officials are considering a scenario in which Elon Musk will acquire Tiktok's US business, but are strongly supported by the platform's control, according to a report by Bloomberg News.
Musk, the owner of social media platform X, has publicly rejected interest in such an acquisition.
Another bid includes San Francisco-based confusion AI. Other competing groups include those led by technology entrepreneur Jesse Tinsley. This also features YouTube star Jimmy Donaldson, known as Mrbeast.
The interests are high as the US serves as Tiktok's largest and most profitable market.
Last year, Tiktok's US arm was estimated to be worth $50 billion. Bytedance also operates Douyin, a similar platform exclusively in China.
Trump has shown anxiousness to extend deadlines if necessary, and will already postpone the first cutoff on January 19th to prevent a sudden shutdown.
As part of the negotiations, Trump has come to mind that the US government should receive a 50% stake in Tiktok as a condition for sale.
However, the ordinance shows no interest in selling its US business.
Tiktok CEO Sho Chu met with Trump at Mar a Lago and also attended the inauguration ceremony to infiltrate the president and himself.
Chu's lobbying takes place in our continued efforts to navigate scrutiny of US regulations.
Bytedance has worked to address national security concerns among American lawmakers.
Private companies are valued at over $400 billion, according to investors such as SoftBank Group Corp.
The China-based tech giant recently repurchased its employees' stake at a $312 billion valuation. This is a sign of increased confidence in the expansion plan.
Potential sales of Tiktok's US operations will also require approval from the Chinese government, which has resisted such moves.
This post is being asked for comment from Tiktok.
