Trump Intends to Revive TikTok, But He Wants a 50% Stake in the Company.

(VOR News) – Following his inauguration on Monday, President-elect Donald Trump promised to restore Tiktok access by executive order. He claimed that at least 50% of the most popular social media apps should be owned by American businessmen.

After its 170 million American users stopped using it late on Saturday, TikTok was terminated for national security reasons on Sunday. Officials from the United States warned Chinese parent company ByteDance against utilizing American data.

He agreed to “extend the period of time before the law’s prohibitions take effect, so that we might negotiate to protect our national security.” I would prefer that the United States own half of a joint venture. On Truth Social, he stated, “We will save TikTok, keep it in good hands, and let it say up by doing this.”

TikTok won’t be affected by Trump’s order.

After taking office, Trump reportedly pledged to give the app a 90-day ban reprieve, and TikHub informed users of this.

“The United States banned TikTok. Unfortunately, TikTok is not accessible. Fortunately, President Trump has informed us that he will help bring TikHub back. TikHub users received a notice saying, “Please stay tuned,” after the app disappeared from the Google and Apple app stores late Saturday.

Though only temporary, the unprecedented TikHub ban is expected to have a huge impact on American politics, the social media corporation, and the millions of Americans who rely on the app for cultural and financial purposes.

There is no major social network banned in the United States. With overwhelming backing, Congress passed a legislation that gives the incoming Trump administration broad authority to prohibit or market new Chinese-owned apps.

As of late Saturday, several ByteDance apps, including Lemon8 and CapCut, were offline and unavailable in American app stores. Many users reported that TikHub was unusable; those who attempted to access it through a web app received the same warning. It was unclear whether US customers could access the program.

Transfer to other options.

The platform had until Sunday to cut links with its Chinese parent business or close its U.S. operation, answering worries about its threat to national security. The measure was passed last year and was upheld by the United States Supreme Court on Friday.

On Friday, the Chinese Embassy in Washington accused the United States of employing excessive state force to destroy TikHub. A spokesperson said: “China will take all necessary measures to resolutely safeguard its legitimate rights and interests.”

Users, primarily young ones, fled to RedNote, a Chinese app, due to app instability. Investors bet on additional consumers and advertising dollars, propelling Meta and Snap shares up this month before the ban.

Using the terms “tiktok refugee” and “sad,” a RedNote user wrote, “This is my new home now.” Other users joined X, the former Twitter, just minutes after TikHub was banned in the United States.

“I never thought they’d cut off TikHub. I’m depressed and missing my companions out there. Hopefully it will be back in a few days @ RavenclawJedi. Moments from “Hair on Fire”

Popular VPN NordVPN was said to be “experiencing temporary technical difficulties.”

“VPN” searches increased in the minutes after American TikHub users lost access, according to Google Trends.

Instagram users are apprehensive about receiving TikTok Shop orders

One executive described it as a “hair on fire” incident, as marketing organizations reliant on TikHub scrambled to devise backup plans after months of optimistically expecting for a fix.

Trump wants a “political resolution” and last month petitioned the Supreme Court to lift the ban, implying that TikHub would return. According to Reuters, TikHub’s CEO, Shou Zi Chew, will attend the inauguration and Trump rally on Sunday.

Former Los Angeles Dodgers owner Frank McCourt is among the candidates interested in the rapidly expanding business, which analysts estimate to be worth $50 billion. While the firm denies it, media reports suggest Beijing has considered selling TikHub’s U.S. operations to billionaire and Trump backer Elon Musk.

Perplexity AI, a search engine business in the United States, volunteered to join TikHub U.S. on Saturday ByteDance, according to a Reuters source. According to the source, perplexity and TikHub U.S. would form a new company with other partners.

General Atlantic and BlackRock, among other private institutional investors, own 60% of ByteDance, while founders and employees own 20%. The company has about 7,000 employees in the United States.

SOURCE: USN

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