Kevin O'Leary, investor and co-host of ABC's Shark Tank, expressed interest in buying TikTok's parent company, ByteDance, in a recent statement on LinkedIn, "TikTok will NOT get banned because I’m gonna buy it! A syndicate will be formed, and somebody's gonna buy it. It’s worth billions and one of the most successful advertising platforms in social media today.” The news comes after the U.S. House passed a bill that could force ByteDance to sell TikTok to avoid a ban in the United States.
Potential Relief for TikTok Users
Kevin O'Leary believes a buyer will emerge, highlighting TikTok's value as a social media platform and advertising tool. “If we can make TikTok all-American, including the servers, I can get this deal done,” O’Leary added.
It's important to note that O'Leary has yet to make a formal bid, and this is just an expression of interest. Whether a deal materializes and how it would impact TikTok remains to be seen. The bill is still awaiting consideration by the Senate.
TikTok is a hugely popular social media app known for its short-form videos and unique algorithm that personalizes user feeds. Launched in 2016, TikTok is owned by ByteDance, a Chinese internet technology company. TikTok has exploded in popularity, especially among younger users, becoming a platform for creators, trends, and entertainment. It is the 6th most popular social media platform, with over 1.2 billion monthly active users.
However, TikTok has faced national security scrutiny in the U.S. Lawmakers worry that ByteDance's ownership could allow the Chinese government access to user data or influence content, leading to discussions about a potential sale or ban.
