As the deadline for TikTok to secure a U.S. buyer approaches, competition for ownership of the popular short-video platform is intensifying.
The latest contenders include Amazon and a consortium led by OnlyFans founder Tim Stokely, both of whom have expressed interest in acquiring the app ahead of the April 5 cutoff.
TikTok faces the risk of being banned in the United States unless it finds a non-Chinese buyer, following concerns from U.S. officials over its ties to China.
Both TikTok and its parent company, ByteDance, have denied allegations that the app poses a security risk.
Stokely’s startup, Zoop, has partnered with a cryptocurrency foundation to present a late-stage bid for TikTok.
ALSO READ: This Comprehensive TikTok Guide Will Lead You to Real Followers
“We are excited about the opportunity to bring TikTok into a new era,” the two parties told Reuters on Wednesday.
Meanwhile, a U.S. administration official confirmed that Amazon had sent a letter to Vice President JD Vance and Commerce Secretary Howard Lutnick regarding its interest in the acquisition. Amazon has not commented on the matter, while TikTok and ByteDance have yet to respond to inquiries. Following the news, Amazon’s shares rose by about 2%.
Amazon’s interest in social media is not new. The tech giant previously acquired live video platform Twitch for nearly $1 billion in 2014 and book review site Goodreads in 2013. It also developed a TikTok-like short-form video and photo feed, Inspire, which was shut down earlier this year.
Trump recently revealed that his administration was in discussions with four different groups regarding TikTok’s sale, without naming them. Meanwhile, private equity firm Blackstone is considering joining ByteDance’s non-Chinese shareholders, led by Susquehanna International Group and General Atlantic to contribute fresh capital for a bid on TikTok’s U.S. business, according to a Reuters report last week.
Another potential deal involves venture capital firm Andreessen Horowitz, which is in talks to provide external funding for a bid led by Oracle and other American investors.
ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
and then