WEBDESK: TikTok is working on a new version of its app for users in the United States as it prepares for a potential sale to a group of investors, The Information has reported, quoting unnamed sources.
This move comes as former US President Donald Trump said he plans to start discussions with China from Monday or Tuesday regarding a possible deal for the video-sharing platform.
Trump told reporters on Friday that a deal to sell TikTok was “pretty much” in place.
According to the report, TikTok plans to launch the updated app on US app stores by September 5. Last month, Trump extended a deadline to September 17 for TikTok’s China-based parent company, ByteDance, to sell off its US assets.
The report added that TikTok users in the US would eventually need to download the new app to keep using the platform. While the current version will continue to work until March next year, that timeline could still change.
TikTok has not responded to Reuters’ request for a comment, and the details mentioned in the report have not yet been confirmed independently.
A similar deal was in the works earlier this year to separate TikTok’s US business into a new company led by American investors.
However, it was put on hold after China pushed back against the plan, especially after Trump announced higher tariffs on Chinese products.
In a Fox News interview aired on Sunday, Trump said a group of “very wealthy people” had agreed to buy TikTok.
He mentioned that the names of the investors would be revealed within two weeks. Speaking on Sunday Morning Futures with Maria Bartiromo, Trump said the deal would likely need Beijing’s approval and expressed hope that Chinese President Xi Jinping would allow it to go through.
“We have a buyer for TikTok, by the way,” Trump said. “I think I will need probably China’s approval. I think President Xi will probably do it.”
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