TikTok, the popular short-video sharing app, is facing an uncertain future as a potential ban looms in the US. The app, owned by Chinese company ByteDance, has been at the center of controversy in the US for four years due to concerns about user data potentially being accessed by the Chinese government. Despite a temporary outage in the US earlier this year, TikTok returned to the App Store and Google Play Store in February. However, its future remains uncertain, with a potential second ban on April 5 threatening to shut down the platform.

To understand the high-stakes drama surrounding TikTok, it's essential to revisit the timeline of its tumultuous relationship with the US government. The drama began in August 2020, when then-President Trump signed an executive order to ban transactions with ByteDance. A month later, Trump's administration sought to force a sale of TikTok's US operations to a US-based company, with Microsoft, Oracle, and Walmart emerging as leading contenders. However, a US judge temporarily blocked Trump's executive order, allowing TikTok to continue operating while the legal battle unfolded.

Things took a significant turn last year following the transition to the Biden administration. The US House of Representatives passed legislation against TikTok with an overwhelming 360-58 vote, which was later passed by the Senate. President Joe Biden signed the bill requiring TikTok to be sold or banned, prompting the company to sue the US government, challenging the constitutionality of the ban and arguing that it and its American users were having their First Amendment rights violated.

In a surprising turn of events, Trump opposed the potential ban of TikTok in a court filing on December 27, 2024, stating that he could find a way to keep the app in the US. This stance was a stark contrast to his approach during his first presidency. In January, the US Supreme Court upheld the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), commonly referred to as "the TikTok ban." TikTok made a formal announcement that it would likely have to go dark on January 19, but the app came back online less than 12 hours later, citing Trump's efforts as the reason for its return.

On January 20, Trump signed an executive order that postponed the TikTok ban for 75 days, providing the app with additional time to either sell a stake in the platform or reach an agreement with Trump. His goal is to achieve a 50-50 ownership arrangement between ByteDance and a US company. More recently, in early March, Trump told reporters that his administration was in talks with four different groups interested in buying the platform.

A number of investors are competing for the opportunity to purchase TikTok's US operations, which could have its valuation soar to upward of $60 billion, as estimated by CFRA Research's senior vice president, Angelo Zino. The list of potential buyers includes The People's Bid for TikTok, a consortium organized by Project Liberty founder Frank McCourt, which aims to prioritize privacy and data control by taking an open-source approach. Other interested parties include American Investor Consortium, led by Jesse Tinsley, Amazon, Bobby Kotick, Steven Mnuchin, Oracle, Walmart, Microsoft, Rumble, and Perplexity AI.

The fate of TikTok's US operations hangs in the balance as the April 5 deadline approaches. If a deal is reached, the platform's valuation could skyrocket, but if not, the app may face a permanent ban in the US. As the drama unfolds, one thing is certain – the future of TikTok in the US is far from certain.

Stay tuned for further updates on this developing story as more information becomes available.