Forced Sale: Amazon, Others Bid for Tikkok
- NEW YORK (AP) — Days before a deadline that could force a sale of TikTok, Amazon has reportedly entered the fray with a potential purchase...
- Former president Donald Trump reportedly discussed the possible sale of the Chinese-owned video platform with high-ranking officials.
- Following the news, shares of Amazon rose by 3%, though a sale to the company remains uncertain.Insiders suggest TikTok is more likely to be acquired by...
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Amazon Reportedly Expresses Interest in TikTok Purchase
NEW YORK (AP) — Days before a deadline that could force a sale of TikTok, Amazon has reportedly entered the fray with a potential purchase offer. The tech giant communicated its interest in a letter to U.S. Vice President JD Vance and Commerce Minister Howard Lutnick, according to a report in The New York Times. A government employee later confirmed the offer to Reuters.
Former president Donald Trump reportedly discussed the possible sale of the Chinese-owned video platform with high-ranking officials. Though, sources cited by The New York Times suggest the government isn’t taking Amazon’s bid seriously.
Following the news, shares of Amazon rose by 3%, though a sale to the company remains uncertain.Insiders suggest TikTok is more likely to be acquired by current U.S. investors, perhaps alongside new investments from companies like Oracle and Blackstone.
Other Potential Bidders Emerge for TikTok
Several other parties have also expressed interest in acquiring TikTok. Tim Stokely, founder of OnlyFans, announced plans to submit a bid in conjunction with a cryptocurrency network. OnlyFans is known for its platform that hosts paid content,including adult material. Stokely intends to make the bid through his startup, Zoop, which is designed for users of all ages.
Another potential buyer is “The People’s Bid for TikTok,” an initiative led by real estate and sports magnate Frank McCourt.microsoft and a group associated with the YouTuber MrBeast are also reportedly considering bids.
TikTok is currently owned by the Chinese company ByteDance. A U.S. law, enacted shortly before Trump left office, mandates that ByteDance divest itself of the video platform. U.S. authorities have accused ByteDance of using TikTok to potentially spy for the Chinese government. The deadline for the law’s implementation, which includes removing the app from app stores, is Saturday, marking 75 days after Trump’s departure.