TikTok was technically banned in the U.S. as of January 19th, 2025, as part of the Senate-approved " Protecting Americans from Foreign Adversary Controlled Applications Act." But upon his inauguration as President on January 20th, President Trump issued an Executive Order to withhold enforcement of the bill, in order to give his team an opportunity to potentially re-negotiate the details.
The TikTok challenger had just cracked the Apple App Store's top-five ranking. Downloads soared 855% month over month, Sensor Tower data showed, fueled by TikTok's imminent ban in the US. It was a dream scenario for an app that - with over $230 million in funding and a roughly $1.1 billion valuation - promised to reinvent social shopping through a mix of product reviews and entertaining videos.