TikTok in the US found a new buyer 10 days before a possible ban on the service

On January 19, a ban on the continued operation of the short video platform TikTok in the United States comes into force, unless its owner, the Chinese company ByteDance, agrees to sell the service to any American company before that day. Without waiting for this date, businessman Frank McCourt’s Project Liberty group announced on Thursday that it had sent an offer to purchase the service to its owner, CNBC writes.

Image source: Solen Feyissa/unsplash.com

«”We put forward ByteDance’s proposal to realize Project Liberty’s vision to reimagine TikTok—one built on an American technology stack that puts people first,” McCourt said. He emphasized that in the future the platform will not rely on the current algorithm. Users’ digital safety will be a priority, and millions of Americans will be able to continue using the platform.

A Project Liberty spokesman said the group was not disclosing the financial terms of the offer and confirmed that ByteDance had received the offer.

Billionaire Frank McCourt, who made his fortune in real estate, is the founder of Project Liberty, an initiative aimed at creating a “healthier, more equitable internet.” He announced plans to buy TikTok back in May last year to “create an alternative to the existing technology model that has colonized the Internet.” Project Liberty intends to move TikTok to an open source platform that will give users more control over their data.

A US law passed last year to protect Americans from apps controlled by unfriendly foreign countries requires TikTok to split from its parent company, ByteDance, under threat of a ban.

TikTok appealed the law to the US Court of Appeals for the District of Columbia Circuit, which after review ruled in favor of the defendant because the government’s arguments in favor of the ban, citing a threat to national security, were sufficiently convincing. It was previously reported that ByteDance would rather close the service in the US than sell it to anyone.

admin

Share
Published by
admin

Recent Posts

A demo of Dispatch, a comedy game about a superhero agency from the former developers of Tales from the Borderlands and The Wolf Among Us, has been released on Steam

Developers from the American AdHoc Studio, founded by former Telltale Games, Ubisoft and Night School…

8 hours ago

Digma DP-FHD800A LCD Full HD Projector Review: A Modern Approach

When you think about a home theater, you immediately imagine bulky projectors with a bunch…

8 hours ago

Lian Li Introduces HydroShift II LCD-C Liquid Cooling System with 360mm Radiator and Three Configurations

Lian Li has introduced a series of maintenance-free liquid cooling systems HydroShift II LCD-C. It…

8 hours ago

Apple: App Store App Developers to Earn $406 Billion in 2024

Amid mounting pressure from U.S. regulators, Apple has released the results of an independent study…

8 hours ago

ASRock Admits Its Motherboards Break Ryzen 9000 Processors

Following a report from YouTube channel Tech Yes City that ASRock linked Ryzen 9000 processor…

8 hours ago

Apple to Change OS Numbering: iOS 26 to Come This Year Instead of iOS 19

Apple is preparing a large-scale rebranding of its line of operating systems. This was reported…

1 day ago