The Information reports that later today, Trump plans to announce a plan for “TikTok America,” a new company with 50 percent ownership by unnamed new US investors, a one-third stake for existing ByteDance investors, and a 19.9 percent share for ByteDance. It would apparently license TikTok’s algorithm from ByteDance.

Amazon’s surprise bid comes amid a flurry of activity from other interested buyers, including Oracle, Andreessen Horowitz, Blackstone and even a consortium backed by social media influencers like MrBeast. Some appear to have a better shot than others.

Although it’s unclear if ByteDance plans to sell TikTok, several potential bidders have come forward in the past few months.

TikTok video app set to go dark— again — as TikTok ban is set to go into effect this week if ByteDance doesn't reach a deal. Here's what to know.