US retailer Walmart will work with Microsoft to bid for US operations of Tik Tok.
Tik Tok has been given 90 days to sell his US arm to a US firm or face sanctions in the country. Donald Trump has accused this app of sharing his user data with Beijing.
Earlier on Thursday, the firm's boss resigned ahead of the ban.
Microsoft, which confirmed in early August that it was in talks with Tik Tok, had "nothing to share at the moment".
Along with Walmart, which owns the UK supermarket chain Asda, it will now compete against other technician bidders, including US tech giant Oracle.
According to reports, a maximum of 30 30 billion (22 22 billion) could be raised in US Tik Tok operations if an agreement is reached.
Since its global launch at the end of 2018, Tiktok has been attracting a huge following, especially among the under-25 age group.
The app lets its followers create short videos with a wide database of songs and a wide range of filters.
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