As the social media platform TikTok is reaching closer to its ban deadline on April 5, the Trump administration is to finalize the proposal for the app. Reuters confirmed that a meeting will be conducted at the Oval Office on Wednesday by Vice President JD Vance, Commerce Secretary Howard Lutnick, national security adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard to discuss the current status of TikTok for selling it to a non-Chinese buyer.
Recently, Blackstone, a private equity firm, was reported making a small minority investment in Tiktok. The news agency confirmed that two people familiar with the matter told that Blackstone is discussing joining ByteDance's existing non-Chinese shareholders, led by Susquehanna International Group and General Atlantic.
Another US venture capital firm, Andreessen Horowitz, is also speculated to invest in TikTok. The company’s co-founder, Marc Andreessen, is also in talks with Trump to add new outside investment that would buy out TikTok's Chinese investors, in a bid reported to be led by Oracle. Currently, no comment has been made by Blackstone or Andreessen Horowitz about the deal or its future prospects.
TikTok Ban in the US
On 05 April 2025, TikTok could be banned in the US over national security concerns. This decision was initially made by former US President Joe Biden in 2024, who imposed a ban on January 19. However, President Donald Trump pushed enforcement back to April 5 to allow the Chinese owner, ByteDance, to sell the platform to a non-Chinese.
Pew Research Findings
According to a recent survey conducted by the Pew Research Center of over 5000 US adults, 49% of the US citizens consider the platform a threat to national security, compared to 59% in March 2023. The study shows a decline in public support for the TikTok ban, with 34% of US adults supporting the social media platform ban, which was 50% in 2023.
Since the deadline for the TikTok ban is approaching and there is no confirmed news about a deal between ByteDance and any US company, the Oval meeting on Wednesday is pivotal. All media eyes are on Oval to find out the future of the most popular short-video app in the US.
Disclaimer
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About the Author
Fatimah Misbah Hussain reports on the money behind AI and chips: Samsung raising foundry prices while losing share, Alphabet's first quarter of AI cash burn and the roughly $10 billion financing stack behind Korea's sovereign AI factory. US sanctions on crypto exchanges and X's new payouts for original posts are also part of her beat.
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