ByteDance is reportedly preparing a backup plan as it faces a new deadline to find a buyer for its TikTok app in the US or face an outright ban.
The Information reported on Sunday (July 6), citing sources, that TikTok is developing a standalone version of its social media app for US users.
The new app is scheduled to launch in US app stores on September 5, sources told The Information.
The reported development comes as ByteDance faces a new deadline to secure a deal for TikTok after US President Donald Trump issued another 90-day reprieve for TikTok, signing an executive order to postpone the enforcement of a law that would force ByteDance to sell its TikTok US operations or face a ban in the market.
The latest extension pushes back ByteDance’s deadline to September 17.
The Information reports that current TikTok users in the US would eventually need to download the new version of the app to maintain access to the service, although the existing app will continue functioning until March 2026.
Last week, Trump disclosed that he has secured a buyer for TikTok’s US business, but declined to identify the group of purchasers, saying he will confirm the details within two weeks.
Speaking on Fox News’ Sunday Morning with Maria Bartiromo, Trump described the potential acquirer as “a group of very wealthy people,” without revealing their identities or the financial terms of the deal.
Trump told Bartiromo in the interview: “We have a buyer for Tiktok, by the way. I think I’ll need probably China approval and I think President Xi [Jinping] will probably do it.”
Just days after the interview, Bloomberg reported, citing a person familiar with the discussions, that the buyers cited by Trump are a group of investors who were previously in talks with ByteDance, including Oracle, Blackstone and venture capital firm Andreessen Horowitz. Those talks broke down after Beijing withheld approval in the wake of Trump’s decision to impose sweeping tariffs on Chinese goods.
Bloomberg said the talks with the consortium previously negotiated a structure that would give outside investors 50% of TikTok’s US business while reducing ByteDance’s stake to below 20%, which would have been in line with the requirements of the divest-or-ban law. As part of the agreement, ByteDance’s existing US investors would own about 30% of the company.
Any transaction would need to secure approval from both US and Chinese authorities.
On Friday (July 4), Trump said talks between the US and China over a possible deal for TikTok will begin on Monday (July 7) or Tuesday, Reuters reported Friday.
Telling reporters on Air Force One, the president said: “I think we’re gonna start Monday or Tuesday…talking to China, perhaps President Xi or one of his representatives, but we would we pretty much have a deal.”
When asked about how confident he was that a deal will be reached, Trump said: “I’m not confident, but I think so. President Xi [Jinping] and I have a great relationship, and I think it’s good for them. I think the deal is good for China and it’s good for us.”
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