TikTok officially announces plans to cease US-based operations

TikTok – Source: Kayla Bartkowski / Getty

ByteDance announced that TikTok plans to end its operations in the United States if the app has not found a buyer by January 19.

One of the biggest social media apps on the market is TikTok, which exploded almost overnight. The app looks like justice for the failed social media app, Vine. Video content is the dominant format that occupies the time of millions of Americans every day. However, the US government believes that the China-based company poses a major threat to national security.

Like most modern phone apps, TikTok collects sensitive data about Americans that could be used in ways the average user could never imagine. In this case, the fear is that China could use the data against American citizens and that trusting another country to do the right thing is not a risk the United States is willing to take.

According to ABC NewsTikTok's fate is in the hands of the Supreme Court, which is considering whether to uphold the law banning the app. For now, the law banning the app will go into effect on January 19, and ByteDance confirms that if no buyers come forward, the app will shut down in the United States on that day. TikTok argued that the law would harm the livelihoods of many Americans and alleged that the security concerns were “hypothetical” and “inaccurate” information.

Shark tank host Kevin O'Leary set to make $20 billion bid for TikTok, Yahoo reports. As the law's effective date approaches, it's clear the app has no plans to sell it. With just nine days to go, can O'Leary throw a Hail Mary and seal the blockbuster deal? We'll have to wait and see, but it seems like very little hope is in sight.