Washington D.C., United States – As the deadline for the TikTok ban looms closer, President Donald Trump was briefed on a plan to bring in new American investors to sustain the popular short-video app. Reports indicate that tech giant Amazon has also made a late bid to secure the social media platform.

According to sources, the White House is on the brink of approving a proposal that would allow a consortium of investors to acquire a stake in TikTok’s U.S. operations. Investors such as Andreessen Horowitz, Blackstone, Silver Lake, and other major private capital firms are expected to hold approximately half of TikTok’s U.S. business.

In the proposed arrangement, Oracle would oversee TikTok’s U.S. user data, while ByteDance, the Chinese owner of TikTok, would maintain a stake of just under 20% in the business. However, the deal would need approval from ByteDance and likely the Chinese government. A key point of contention is the control of TikTok’s video-recommendation algorithm, with the Chinese government preferring ByteDance to retain control while licensing the technology to the new U.S. owner.

TikTok has been granted a temporary reprieve from a 2024 law that mandates a divestment of ownership by ByteDance in order to operate in the U.S. Following a brief shutdown, Trump delayed the ban enforcement on his first day in office, allowing TikTok to resume operations for its 170 million U.S. users.

Despite the progress in negotiations, the deal remains under review and may undergo further scrutiny in the coming months. Meanwhile, last-minute bids have emerged ahead of the April 5 deadline, with Amazon and mobile advertising technology company AppLovin making unexpected offers to acquire TikTok.

While Amazon’s bid is seen as having strategic merit due to its expanding advertising business and existing partnership with TikTok, concerns over antitrust issues and Chinese government approvals may pose challenges to the deal. AppLovin, on the other hand, sought the backing of casino magnate Steve Wynn for its bid. However, the consortium of new U.S. investors and Oracle’s involvement in data management is currently viewed as the leading proposal for acquiring TikTok.

Following the reports of the bids, Oracle, Amazon, and AppLovin experienced fluctuations in their stock prices, with declines recorded as U.S. markets reacted to Trump’s tariff measures. Despite the uncertainties surrounding the deal, stakeholders are closely monitoring the developments as the deadline approaches.