TikTok, the much-loved short-video app, continued to be absent from Apple and Google’s app stores in the U.S on Tuesday, even after President Donald Trump extended the deadline for a proposed ban by 75 days. This move came just a day after he signed an executive order to delay the ban’s enforcement.
This latest twist in TikTok’s saga has cast a shadow over the app’s future, which was abruptly taken offline on Saturday. The app was deactivated shortly before a law citing national security concerns came into effect on Sunday, directing Chinese parent company ByteDance to offload it or face a ban.
Despite the app resuming service following reassurances from Trump that ByteDance and its partners would not be slapped with significant fines, TikTok is yet to make its comeback on the app stores. Analysts speculate this could be due to Apple and Google waiting for further protective measures before circumventing the ban, which penalizes the companies for hosting or distributing the app.
Users searching for TikTok and other ByteDance apps on Apple’s App Store were greeted with a message stating that the apps are not available in their current location. Similarly, Google Play displayed a message that downloads for the app had been temporarily halted due to U.S. legal stipulations.
Neither Google, Apple, nor TikTok have responded to requests for comments on this matter.
In other news, former U.S. Treasury Secretary Steven Mnuchin revealed to CNBC that he had put his bid for TikTok on hold due to China’s reluctance to negotiate, but would be very interested in investing. He envisages a complete technology transfer, thereby severing ties with ByteDance.
Describing TikTok as a “fantastic business”, Mnuchin and his partners plan to revamp its technology. Bill Ford, CEO of TikTok investor General Atlantic, further mentioned to CNBC that there are ways to alter TikTok’s U.S. ownership without necessarily selling it. He added that the app’s parent company is already 60% owned by non-Chinese stakeholders.
ByteDance is almost 60% owned by institutional investors like BlackRock and General Atlantic while the founders and employees hold 20% each. Neither Mnuchin nor Ford have responded to requests for comments so far.
