After months of back-and-forth conversations, big changes could be coming to one of the world’s most popular social media apps: TikTok.
President Donald Trump recently signed an executive order that allows the sale of TikTok, which would avoid any potential ban in the U.S. as negotiations move forward.
Under the agreement, a group of U.S investors would be allowed to purchase TikTok from the current owner, ByteDance, reducing the company’s ownership to under 20%.
Tech giant Oracle is part of the potential group, with reports suggesting Rupert Murdoch and Michael Dell may also join.
“So we’re getting it done,” said Trump. “They have a big audience. And, we have great American investors.”
Beyond national security concerns, some experts say this deal could open doors for business.
“Most likely, they’re buying it to create partnerships on TikTok because TikTok is such an immense force with marketing and social media,” said Nancy Richmond, an FIU social media marketing professor.
Still, questions remain about whether these changes could change the app as we know it.
“I don’t think that it’s in their best interest to make TikTok users angry and to stop using the app,” Richmond added.
Meanwhile, others believe the real impact could happen behind the scenes.
“Someone would have to review their terms and conditions when you sign up for the app from China and see if those terms and conditions match the U.S laws,” said I.T. support specialist Sanal Huggins.
The deal still needs China’s approval but President Trump said the Chinese have agreed to move forward.
All parties involved are expected to meet at a regional summit in South Korea to potentially discuss TikTok, among other things, later in October.
