President Trump on Friday extended TikTok's deadline to be so๊ld or face a ban in the U.S. by another 75 days. The social media platform had previously faced a Saturday deadline, after Trump extended i꧋t by 75 days in January.

“My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress. The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days,” Trump said in a post on his Truth Social platform Friday.

The app, which is owned by Chinese social media company ByteDance, has received bids from a number of technology and media companies in recent weeks. Trump told reporters this week that a deal is "very close" to being made, without specifying which is likely to buy TikTok, Bloomberg reported Thursday.

Who Is in the Running To Buy TikTok?

A wide range of potential buyers have reportedly made bids for TikTok in recent months, including Reddit (RDDT) 澳洲幸运5官方开奖结果体彩网:co-founder Alexis Ohanian and "Shark Tank" host Kevin O'Leary.

Amazon (AMZN) has also 澳洲幸运5官方开奖结果体彩网:submitted an offer, according to reports Wednesday, while adtech company AppLovin (APP) on Thursday confirmed its interest in acquiring TikTok's non-China operations in a regulatory filing.

Trump and some of his advisors reportedly discussed options this week, with contenders including a group led by Oracle (ORCL) and venture capital firm Andreessen Horowitz, according to reports.

It remains to be seen whether the 澳洲幸运5官方开奖结果体彩网:escalating trade war between the U.S. and China after the Trump administration 澳洲幸运5官方开奖结果体彩网:announced new tariffs this week could impact the Chinese governm𒁃ent🌄's willingness to allow a deal.

Why Does TikTok Face a Ban?

Trump had supported a ban of the app in his first term, with a bipartisan effort to ban it or force it to be sold to a U.S. company amid concerns that the Chinese government could access data about TikTok's 170 million American users, though the company has maintained the Chinese government does not have access to that data.

The ban was eventually passed through Congress, with President Joe Biden 澳洲幸运5官方开奖结果体彩网:signing the bill into law last April. The law survived lawsuits as it was 澳洲幸运5官方开奖结果体彩网:upheld in court rulings, with the Supreme Court in January ruling that the Jan. 19 deadline 澳洲幸运5官方开奖结果体彩网:could remain in place.

The app went dark for U.S. users around 11 p.m. ET on Jan. 18, before 澳洲幸运5官方开奖结果体彩网:restoring service hours later as Trump signed an executive order 澳洲幸运5官方开奖结果体彩网:extending the deadline by 75 days.

UPDATE—April 4, 2025: This article has been updated since it was first published to reflect Trump's deadline extension announced Friday.