U.S. President Joe Biden signed a bill into law Wednesday that requires ByteDance to divest TikTok within a year through a forced sale or face a ban of the app in the U.S., based on national security concerns.
Analysts noted possible buyers for TikTok, how the app may be sold without its signature algorithm, and likely legal challenges, as well as how Meta Platforms (META), Google parent company Alphabet (GOOGL), and Snap (SNAP) could gain.
While it remains unclear whether ByteDance is open to selling TikTok, CFRA analysts said they are “leaning toward a sale as the likeliest outcome.” Even if ByteDance is on board to sell the platform, many questions linger about the price tag and who would buy it.
Companies including Microsoft (MSFT), Oracle (ORCL), Walmart (WMT), Rumble (RUM), and Twitter (now Elon Musk’s X) have reportedly expressed interest in acquiring …