TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data As TikTok's future remains uncertain, a number of prominent moguls and companies are competing for the opportunity to purchase the app.

TikTok owner ByteDance Ltd. is set to be hit by a privacy fine of more than €500 million ($553 million) for illegally shipping European users’ data to China, adding to the growing global backlash over the video-sharing app.

Several potential buyers have bid on the popular social media app to ensure its continued access in the United States.

Vice President Vance said that a TikTok deal would be reached before Saturday’s ban enforcement deadline after President Trump’s closed-door meeting with top aides to discuss potential

Amazon has now sent a letter to the Trump administration to join the bidding war for TikTok, sources told ABC News.

The White House has examined a menu of options to avert a TikTok ban deadline set for Saturday. One proposal — letting TikTok’s Chinese owner lease the algorithm to a TikTok spinoff in the U.S. — would probably face resistance from China hawks in Trump’s party.

Trump gave China’s ByteDance until Saturday to sell or divest its U.S. TikTok business. A source confirmed to NBC News that the e-commerce giant had made a last-minute pitch.

In an eleventh hour bid before the looming ban of TikTok in America this weekend, Internet behemoth Amazon has made an offer to purchase the video-sharing app from Chinese-based company ByteDance.

Under a 2024 law, TikTok faces a potential ban in the US starting on April 5 if its parent company, ByteDance, doesn't agree to divest ownership.