The company said late Friday that it will go dark in the United States on Sunday unless President Joe Biden’s administration provides assurances to companies like Apple and Google that they will not face enforcement actions when a ban takes effect.
The platform has until Sunday to cut ties with its China-based parent ByteDance or shut down its U.S. operation to resolve concerns it posed a threat to national security.
Without a decision by Biden to formally invoke a 90-day delay in the deadline, companies providing services to TikTok or hosting the app could face legal liability. It is not clear if
Uncertainty over the app’s future had sent users - mostly made up of younger people - scrambling to alternatives including China-based RedNote. Rivals Meta (META.O), opens new tab and Snap (SNAP.N), opens new tab had also seen their shares rise this month ahead of the ban, as investors bet on an influx of users and ad dollars.
There have been signs that TikTok could make a comeback under incoming U.S. President Donald Trump, who wants to pursue a “political resolution” of the issue and had last month urged the Supreme Court to pause implementation of the ban.
TikTok CEO Shou Zi Chew plans to attend the U.S. presidential inauguration on Jan. 20 and sit among high-profile guests invited by Trump, a source told Reuters.
Privately held ByteDance is about 60% owned by institutional investors such as BlackRock and General Atlantic, while its founders and employees own 20% each. It has more than 7,000 employees in the U.S.
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