TikTok’s latest round of potential buyers includes Oracle and Perplexity AI
After President Trump announced that saving TikTok would require the US — it’s not clear whether he meant US companies or the government itself — to have a 50% ownership stake in a new venture, a new round of bids is flowing in for ByteDance’s short-form video app:
Oracle, which had successfully bid for TikTok during Trump’s last administration, along with other investors is discussing taking a majority stake in the company’s global operations, NPR reports. “The goal is for Oracle to effectively monitor and provide oversight with what is going on with TikTok,” said an anonymous source directly involved in the talks. “ByteDance wouldn’t completely go away, but it would minimize Chinese ownership.”
Perplexity AI has also mounted a new bid that would give the US government up to 50% ownership of a new entity that combines Perplexity and TikTok’s US business, following an initial public offering of at least $300 billion, according to the Associated Press. The deal wouldn’t include the TikTok’s vaunted recommendation algorithm and the government would not have voting power or a seat on the new company’s board.
Trump, who said he’s in talks with “many people” interested in buying TikTok, expects to have a decision in 30 days, Reuters reports.
