While one source mentioned in the report said that they were sceptical a deal would be made without the all-important algorithm as a centrepiece, another speculated that an American company would still be willing to acquire TikTok for its 100 million US users and develop a new algorithm for the app.
He added that Snap typically preferred to acquire companies together with their engineers, a move that may not be possible with TikTok.
TikTok, which is claimed by Beijing-based ByteDance Ltd, has been given 90 days to sell its US operations to an American firm or face a boycott in the nation on the off chance that it isn't sold. Uncertainty over new restrictions from the Chinese government on the export of artificial intelligence technology has complicated matters, the Wall Street Journal reported.
Reports from over the weekend were that a sale of TikTok's U.S. operations could be announced early this week have hit a setback.
Last month, hours after TikTok CEO Kevin Mayer announced his resignation from his position, parent ByteDance founder Zhang Yiming wrote a letter highlighting that the company is "moving quickly" to resolve issues in India and the US.
The report mentioned that potential buyers and sellers are trying to figure out this problem. In addition, the USA government forced TikTok to be sold to foreign companies, and Trump also asked for "compensation", which once again caused controversy. Advertisement Meadows' comments come amid a tussle over the fate of wildly popular video app TikTok in the US. TikTok is owned by Beijing-based ByteDance. Until Friday, this algorithm was being considered part of the deal. It is noteworthy that Microsoft-Walmart and Oracle etc. are potential purchasers of Ticketcock's United States operations. The question is whether its algorithms would need Chinese government approval for transfer, and if so, whether Beijing would sign off.
How could TikTok, a social media app for young people to share light-hearted videos like singing and dancing, pose national security threats to the US?