Amazon and OnlyFans Owner are Latest to Compete to Buy TikTok
The fate of TikTok’s US operations was looking bleak but now some of the biggest names in the tech world have thrown their hats in the ring to become its new owner.
The deadline for sale – or dissolution – is April 5th; and there are now six contenders fighting to get their hands on the US operations of the beleaguered social media platform. Despite a stay of execution from President Trump – who has flip-flopped dramatically in his attitude towards the Chinse-owned platform – the time for a sale or closure is upon the company.
It has long been in the crosshairs of the US administration over concerns about national security; and whether US user data is ring-fenced from Chinese authorities.
According to Reuters, Amazon revealed its interest in a letter sent to Vice President JD Vance and Department of Commerce Secretary Howard Lutnick. The multinational is keeping quiet though – and has yet to confirm its intentions. However, the rumours resulted in a share hike for the company.
More open has been OnlyFans founder Tim Stokely who has partnered with a cryptocurrency foundation called Hbar Foundation to launch his bid.
There is also news that the non-Chinese shareholders of ByteDance – TikTok’s parent company – could join forces with private equity firm, Blackstone, to bid for the US business.
The contenders are going up against Oracle and mobile technology company AppLovin, which reportedly has the backing of casino mogul Steve Wynn.
In January, Trump suggested that Microsoft might also be interested, going up against separate bids from YouTube giant, MrBeast, and Shark Tank host Kevin O’Leary. There were even suggestions that Elon Musk might be eyeing up the platform.
With no time left for the company, it’s anyone’s guess as to who will win; but TikTok’s estimated 135.79 million monthly active users in the United States have had a rollercoaster of a wait for months now; and so will be watching keenly.
