Billionaire entrepreneur Frank McCourt and “Shark Tank” investor Kevin O’Leary have made a formal bid to purchase TikTok’s US assets from its China-based parent company, ByteDance. The bid, made by a group named “The People’s Bid for TikTok,” comes ahead of a potential US ban on TikTok. However, ByteDance has firmly stated that TikTok is not for sale, creating a significant obstacle for the proposal.
The bid aims to buy the US version of TikTok without its well-known algorithm and rebuild it using American-designed technology. While this could address concerns over national security, experts question whether the platform could maintain its popularity without its algorithm, which drives the app’s success.
