Marketing platform AppLovin said on Thursday it has submitted a bid for TikTok assets outside of China, ahead of the April 5 deadline set by the U.S. President Donald Trump to find a non-Chinese buyer for the short video app used by 170 million Americans.
AppLovin said in a regulatory filing that its proposal for TikTok is preliminary and there can be no assurance that a transaction will proceed.
Bidders for the short video social media company are piling up, as the weekend deadline for TikTok to find a buyer approaches. TikTok did not immediately respond to a Reuters request for comment.
“The addition of TikTok could accelerate AppLovin’s transition into a global advertising powerhouse, but regulatory and geopolitical complexities remain a critical variable for investors,” said Michael Ashley Schulman, chief investment officer at Running Point Capital.
Amazon and, separately, a consortium led by OnlyFans founder Tim Stokely are the latest to throw their hats into the ring for TikTok.
US officials have raised security concerns over the app’s ties to China, which TikTok and its owner, ByteDance, have denied.
Trump said last month his administration was in touch with four different groups about the sale of the platform, without identifying them.
The White House has been involved to an unprecedented level in the closely watched deal talks, effectively playing the role of an investment bank.
Trump has also said that he would consider a deal for TikTok where China agrees to approve the sale of the short video app owned by ByteDance in exchange for relief from U.S. tariffs on Chinese imports.
Private equity firm Blackstone is discussing joining ByteDance’s non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, in contributing fresh capital to bid for TikTok’s U.S. business, Reuters has reported.
The future of the app used by nearly half of all Americans has been up in the air since a 2024 law, passed with overwhelming bipartisan support, required ByteDance to divest TikTok by January 19.
The app briefly went dark just before that deadline.
Trump, after taking office for a second term on January 20, signed an executive order seeking to delay by 75 days the enforcement of the law, allowing TikTok to continue its operations in the US temporarily. Reuters