synopsis
TikTok's US shutdown sparks user exodus to alternatives like RedNote, Meta, and Snap, amid potential buyouts and a possible comeback.
The shutdown of TikTok in the US has sent the users flocking to alternative platforms and marketing firms. As the ban took effect, users took to social media to express their disappointment and uncertainty about the platform's future.
RedNote, a China-based app, has emerged as a popular alternative, with users embracing the platform as their "new home." Meanwhile, rivals Meta and Snap have seen their share prices rise as investors bet on an influx of users and advertising dollars.
As users navigated the sudden loss of TikTok, technical difficulties plagued NordVPN, a popular virtual private network. Web searches for "VPN" spiked in the minutes following the ban, according to Google Trends.
Marketing firms, which had grown reliant on TikTok, were forced to hastily prepare contingency plans. One executive described the situation as a "hair on fire" moment, as companies scrambled to adapt to the new reality.
Despite the uncertainty, there are signs that TikTok may yet make a comeback. US President-elect Donald Trump has expressed a desire to pursue a "political resolution" to the issue, and TikTok CEO Shou Zi Chew plans to attend the presidential inauguration.
As the situation continues to unfold, suitors have begun to circle the embattled platform. Former Los Angeles Dodgers owner Frank McCourt has expressed interest in acquiring TikTok, while media reports suggest that Beijing has held talks with billionaire Elon Musk about selling the platform's US operations.
In a surprise move, US search engine startup Perplexity AI submitted a bid to ByteDance on Saturday to merge with TikTok's US operations. The proposed deal would create a new entity by combining the merged company with other partners.
TikTok has over 7,000 employees in the US and could be worth at least $50 billion, as per analysts.