AppLovin Corp. has submitted a bid for TikTok‘s assets outside of China as the April 5 deadline set by U.S. President Donald Trump approaches. 

The marketing platform disclosed the preliminary proposal in a regulatory filing on Thursday, April 3, noting that there is no assurance a transaction will proceed, Reuters reports.

The bid comes as multiple suitors emerge for the short video app used by approximately 170 million Americans. TikTok’s future hinges on finding a non-Chinese buyer to address U.S. security concerns regarding the platform’s ties to China.

“The addition of TikTok could accelerate AppLovin’s transition into a global advertising powerhouse, but regulatory and geopolitical complexities remain a critical variable for investors,” Michael Ashley Schulman, Chief Investment Officer at Running Point Capital, said in a statement.

Competition Intensifies Among Bidders

Other contenders include Amazon and a consortium led by Tim Stokely, founder of OnlyFans. Stokely’s new company, Zoop, partnered with the Hbar Foundation, which manages the Hedera cryptocurrency network’s treasury, to submit a late-stage acquisition plan.

“Our bid for TikTok isn’t just about changing ownership; it’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate,” Zoop co-founder RJ Phillips told Reuters.

Private equity firm Blackstone is reportedly discussing joining ByteDance’s non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, to contribute fresh capital for a bid on TikTok’s U.S. business.

Regulatory Path and White House Involvement

The White House plays an active role in the negotiations, functioning as an investment bank in the closely watched deal talks. Trump previously stated that his administration is in communication with four different groups interested in acquiring the platform.

The President also suggested that he consider a deal where China approves ByteDance’s sale of TikTok in exchange for relief from U.S. tariffs on Chinese imports.

TikTok’s U.S. operations are running under a 75-day enforcement delay ordered by Trump after his January 20 inauguration, temporarily extending the original January 19 divestiture deadline established by bipartisan legislation passed in 2024.