TikTok shuts down in US as ban goes into effect
TikTok has officially shut down in the United States. The social media app went dark after the US Supreme Court determined that national security concerns outweighed TikTok's First Amendment argument against a law that was signed in April 2024. ByteDance, TikTok's Chinese parent company, also had the option to divest its stake in the platform, but it chose not to despite there being interested buyers. Apple (AAPL) and Google (GOOG) removed TikTok from their U.S. App stores late on Saturday evening before the ban went into effect while Oracle (ORCL) began the process of shutting down their servers. President-elect Donald Trump announced Sunday via Truth Social (DJT) that he will issue an executive order on Monday to extend the period of time before a ban takes effect "so that we can make a deal to protect our national security." If the ban does go through Meta (META), Snap (SNAP) and Reddit (RDDT) stand to benefit the most as users migrate off TikTok. Yahoo Finance Senior Reporter Jennifer Schonberger reports the latest. This post was written by Stephanie Mikulich and Justin Oliver. Learn more about the TikTok ban TikTok loses Supreme Court battle to stop US ban What could happen to your TikTok app on Jan. 19 TikTok allows for 'organic virality,' content creators say Kevin O'Leary wants to save TikTok for its 6M+ entrepreneurs
