ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.

A looming ban on TikTok set to take effect on Sunday presents a multibillion-dollar headache for app store operators Apple and Google.

The platform is in need of saving in the United States, where approximately 170 million people have TikTok accounts. On Friday, the U.S. Supreme Court upheld a federal law that will ban the platform on Jan. 19 unless TikTok’s China-based owner ByteDance divests its U.S. operations.

TikTok CEO Shou Zi Chew thanked Donald Trump for his commitment to "finding a solution" that keeps TikTok available in the U.S. after the ruling.

The company is one of the app’s leading server providers, managing the data centers where billions of 40-second videos are stored.

The decision came a week after the justices heard a First Amendment challenge to a law aimed at the wildly popular short-form video platform used by 170 million Americans that the government fears could be influenced by China.

The high-profile names who could potentially buy TikTok following the Supreme Court's decision to uphold the law banning the platform in the US.

Chinese merchants on TikTok are taking precautionary measures to prepare for a looming ban of the short-video app in the United States, including switching to competing platforms and focusing on other overseas markets.

Morgan Stanley analyst Brian Nowak maintained a Buy rating on Amazon (AMZN – Research Report) today and set a price target of $280.00.Stay

For a limited time only, Get 33% off your first purchase of Timeline’s Longevity Supplement here (discount code: LOWCARBNY) - <a href=" #timelinepartner Thank you Timeline for sponsoring this video! I’m focused on putting myself first this year so I added Timeline’s longevity supplement to my routine!

Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.

Silicon Valley’s most prominent business leaders are expected to be in chilly Washington on Monday for President-elect Donald Trump’s second inauguration to warm relations with the incoming administration.