MrBeast, one of most successful Internet creators, may join a bid by real estate mogul and Project Liberty founder Frank McCourt to buy TikTok's U.S. arm, McCourt told Axios' Sara Fischer in Davos Wednesday.
A board member at TikTok’s parent company said that a deal to save the app from disappearing in the United States will be done soon.
Real estate mogul Frank McCourt, who is trying to buy TikTok's U.S. arm, reiterated his investor group's ability to make a deal and still comply with the Supreme Court's ruling on Friday. Why it matters: Billionaire McCourt says he has the money and the technology to keep TikTok running on American phones.
Frank McCourt’s Project Liberty and other investors have submitted a bid to buy TikTok from China-based ByteDance after a court-ordered divestiture or shutdown.
If TikTok’s parent company, the Chinese firm ByteDance, is forced to sell the app, who would buy it? ByteDance has said a sale is not feasible. The Chinese government has indicated that it would block a sale if it includes the algorithm that makes TikTok extremely valuable.
McCourt wants to build a decentralized version of the internet where individual users, rather than tech companies, own the reams of data spawned by their online lives.
A group formed by billionaire entrepreneur and former Los Angeles Dodgers owner Frank McCourt has made a formal offer to buy TikTok from its China-based parent company, ByteDance.
TikTok will be banned in the US on 19 January - unless the Supreme Court accepts a last ditch legal bid from its Chinese owner, ByteDance, that to do so would be unconstitutional.
Three days after ByteDance's TikTok went dark and then was quickly revived in the United States, users who deleted the app were anxiously checking iPhone and Android devices to find it still unavailable to be downloaded again.
The law gives the president the option to extend the ban by 90 days, but triggering the extension requires evidence that parties working on purchasing have made significant progress, including binding legal agreements for such a deal — and TikTok’s parent company, ByteDance, hasn’t publicly updated its stance that the app is not for sale.
Businessman Frank McCourt is "open-minded" to keeping TikTok's existing investors, including the founder, involved after any deal to buy the U.S. operations of the Chinese-owned short-form video app,
The popular platform could be banned on Jan. 19 under a federal law, while many parties have expressed interest in buying the asset.