Days before an April 5 deadline for TikTok to find a buyer or get shut out of its biggest market, the list of potential outcomes for the video app got a lot longer.
Amazon.com became the latest big name to jump into the fray, submitting a bid to the White House to buy out a business once valued at $60 billion (roughly Rs. 5,13,272 crore). Lesser-known AppLovin is also reportedly seeking backing for its own takeover bid. The pair lengthen an already eclectic list of potential owners of the ByteDance app at the nexus of US-China tensions.
From Youtube influencers to tech entrepreneurs and billionaire financiers, TikTok’s suitors hope to gain a slice of a Chinese-owned phenom that’s displacing the likes of Facebook as a hot social media destination for American youths. It got so popular Washington — worried about the potential to spy on users or shape public opinion — set in motion a legal assault that led to this Saturday’s deadline for a sell-or-ban deal.
Beijing — which has remained restrained in its responses to a forced divestment it once called “open robbery” — prefer TikTok remains under Chinese ownership. But it may accept a deal that doesn’t involve the transfer of the key algorithms that power TikTok’s vaunted video recommendations, Bloomberg News has reported.
President Donald Trump was expected to meet with top administration officials Wednesday afternoon to consider existing proposals, including one that would include Oracle Corp. and Blackstone Inc. and potentially other investors in a joint venture, Bloomberg reported earlier.
Amazon outlined its own offer to Vice President JD Vance and Commerce Secretary Howard Lutnick, according to a person familiar with the matter. But the proposal, reported earlier by the New York Times, is not being considered seriously by the administration, according to the person, who discussed the process on the condition of anonymity. The company declined to comment.
Even if Amazon’s bid fails to gain traction inside the White House, the company’s interest could compel other suitors to pay more, which squeezes more money out of a potential rival. Being involved in negotiations could also give Amazon visibility into TikTok’s financial performance, including TikTok Shop, a rising competitor to Amazon’s online retail business.
Amazon joins several publicly known offers, including one from a group led by billionaire Frank McCourt and Reddit co-founder Alexis Ohanian, another featuring tech entrepreneur Jesse Tinsley and YouTube star MrBeast, and a merger offer by San Francisco-based Perplexity AI.
The field also includes a bid from AppLovin, CNBC reported Wednesday. AppLovin shares jumped as much as six percent on the news. A company spokesperson didn’t respond to a request for comment.
Trump has said he would be willing to extend the deadline if needed. A bipartisan group of US lawmakers passed the law, signed by former President Joe Biden, last year to address concerns that the Chinese government could collect sensitive data on US citizens.
Trump has extended the deadline once already from an initial date of January 19. Even if he signs off on a proposal, it would still require approval from TikTok’s parent and the Chinese government. It remains unclear whether ByteDance and Beijing have been involved in the conversations.
McCourt said Wednesday that his plan for acquiring TikTok remains on the table, but added that he sees little chance of a deal being settled by the Trump administration before the April 5 deadline.
“I personally think that’s highly unlikely but we’ll know more this afternoon or certainly by the 5th,” McCourt said in an interview on Bloomberg Television.
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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
