The app’s availability in the U.S. has been thrown into jeopardy over data privacy and national security concerns.

With the future of TikTok’s ownership hanging in the balance, two uber-rich, politically connected investors are lying in wait, hoping to snag the app if it’s ultimately put on the market.

Entrepreneur and former Los Angeles Dodgers owner Frank McCourt's Project Liberty and its consortium of partners in The People's Bid said on Thursday they proposed to make a formal bid to ByteDance to buy TikTok's U.