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WashingTone
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Friday, Apr 18, 2025
WashingTone
Amazon Enters the Bidding for TikTok Acquisition in a Last-Minute Maneuver.
The e-commerce behemoth has formally submitted a proposal to the White House, with Trump’s deadline for the sale of the widely-used social media app drawing near.
Just three days prior to President Trump's deadline for American companies to purchase TikTok, Amazon has made a late offer to acquire the social media platform.
This development follows Trump's issuance of an executive order that mandates ByteDance, TikTok's Chinese parent company, to sell its US operations or face a ban.
In reaction to the announcement, Amazon's stock saw a 2% increase.
The bid was reportedly outlined in a comprehensive letter directed to Vice President Mike Pence and Commerce Secretary Wilbur Ross.
However, it remains uncertain if the offer is being regarded seriously by those involved in the discussions.
TikTok boasts over 170 million users in the US, and Congress has categorized it as a national security concern due to its connections with the Chinese government.
Discussions led by the White House are focused on reducing Chinese ownership of the company to below 20%.
Other interested parties, including Oracle and investors like Andreessen Horowitz and Blackstone, have also presented offers to acquire portions of TikTok or manage its user data in the US. A sale of TikTok is projected to yield at least $40 billion for its owners.
This development follows Trump's issuance of an executive order that mandates ByteDance, TikTok's Chinese parent company, to sell its US operations or face a ban.
In reaction to the announcement, Amazon's stock saw a 2% increase.
The bid was reportedly outlined in a comprehensive letter directed to Vice President Mike Pence and Commerce Secretary Wilbur Ross.
However, it remains uncertain if the offer is being regarded seriously by those involved in the discussions.
TikTok boasts over 170 million users in the US, and Congress has categorized it as a national security concern due to its connections with the Chinese government.
Discussions led by the White House are focused on reducing Chinese ownership of the company to below 20%.
Other interested parties, including Oracle and investors like Andreessen Horowitz and Blackstone, have also presented offers to acquire portions of TikTok or manage its user data in the US. A sale of TikTok is projected to yield at least $40 billion for its owners.
