An investor group led by Project Liberty founder Frank McCourt has submitted a formal buyout offer for TikTok's U.S. operations ahead of the approaching divestment deadline.

The People's Bid for TikTok includes backing from major private equity firms, family offices, and high-net-worth individuals, with debt financing from a major U.S. bank. While the exact offer amount remains undisclosed, earlier reports suggested capital commitments of around $20 billion.

Key aspects of the offer:

• Proposes building on American-made tech stack
• Would not include TikTok's current algorithm
• Aims to keep platform operational without a ban
• Maintains service continuity for U.S. users

Current situation:

• January 19th ban deadline approaching
• Supreme Court appears unsympathetic to TikTok's arguments
• President Biden could grant a 90-day extension
• President-elect Trump may revive the app after January 20th

Market predictions vary significantly:

• Kalshi odds show 68% chance of U.S. TikTok ban before May
• Evercore ISI estimates 20-25% probability of ban implementation

ByteDance has historically resisted selling TikTok, with the algorithm being a major sticking point. However, the imminent deadline and mounting pressure may influence their position. Competitors like Triller are already positioning themselves to capture users if a ban occurs.

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