- U.S. government will not extend a Sept. 20 deadline for the sale of the Chinese-owned video sharing app, raising possibility that it might be banned in the United States
- TikTok has proven especially popular among Generation Z, with businesses beginning to capitalize on its marketing potential
- Negotiations for a sale to an American buyer have been ongoing, but complexities in the process may make it difficult to close a deal by the deadline
President Donald Trump is ruling out an extension on the deadline for the sale of TikTok, raising the possibility that the popular video-sharing app may be banned in the United States if a deal cannot by struck by Sept. 20.
Trump issued an executive order last month giving ByteDance, the Beijing-based owner of TikTok, 45 days to sell the app or be barred from doing business in the U.S. Negotiations were already underway at the time for a sale to Microsoft, though complexities involved in the process may make it difficult for a deal to close by the deadline. ByteDance has sued the Trump Administration over the order, denying its claims that it raises national security issues by potentially allowing the Chinese government to access Americans’ personal data.
TikTok has gained a wide following among Generation Z, making it a useful way for companies to market to younger audiences. The app opened a business platform earlier this year, though marketers had already started using advertising and other strategies on TikTok to promote their products and services.