TikTok might announce sale of its US ops in $20 billion to $30 billion range soon

TikTok is close to announcing a deal to sell its US operations and might do so in the coming days, said people who are familiar with the matter. CEO Kevin Mayer stepped down on Thursday stating that the role he signed up for is not going to remain the same given the recent developments.

According to CNBC, Mayer was supposed to announce his resignation along with the sale agreement for TikTok’s US operations next week but pushed it up because news of him leaving was ‘leaked’ to Financial Times. Vanessa Pappas will be taking over as interim head of TikTok’s US ops.

Mayer leaving is clear indication that TikTok’s US operations are on the verge of being sold. So far, Microsoft and Walmart have partnered up to offer a deal that’s better than what Oracle is offering and since all the bids have come in before the deadline, one can expect talks to go through soon.