Less than a month after extending a deadline to ban TikTok for the third time, President Donald Trump told reporters late Friday night that, “We pretty much have a deal,” on TikTok.

President Donald Trump claims the U.S. has "pretty much" reached a deal for the purchase of TikTok's U.S. assets, and negotiations with China are scheduled to start Monday or Tuesday.

The new version of the TikTok app is reportedly known as ‘M2’ internally.

TikTok is developing a new version of its app for U.S. users ahead of an expected sale of the app to a group of investors, according to a new report from The Information.

ByteDance is said to be building a new, US-only version of the TikTok app that it will release on September 5. According to The Information, the company is moving ahead with this plan to comply with legislation requiring it to sell its TikTok business in the US or face a nationwide ban.