AMAZON has reportedly made a last-minute bid to purchase TikTok as the popular short-form video app faces a looming April 5 ban in the United States.
Former President Joe Biden signed a law last April that required ByteDance, the Beijing tech company that owns TikTok, to sell the platform to a US institution or face a nationwide ban.
The law cited fears and concerns that TikTok poses a national security risk due to its Chinese ownership.
TikTok went dark in the United States after it reached its January 19 deadline without a sale.
However, hours after taking office, President Donald Trump signed an executive order delaying the federal ban on TikTok for an additional 75 days.
April 5 marks the end of Trump’s extension and TikTok remains silent on a potential US sale.
Amazon made an eleventh hour offer to acquire all of TikTok, The New York Times reported on Wednesday.
The bid came in the form of a letter addressed to Vice President JD Vance and Secretary of Commerce Howard Lutnick, the outlet reported.
But parties involved in the talks do not appear to be taking the e-commerce giant’s offer seriously, according to The New York Times.
TIKTOK’S SUITORS
Amazon now joins a list of billionaire powerhouses that have entertained a potential purchase of TikTok.
Tesla owner Elon Musk, who purchased X, then Twitter, for $44 billion in 2022, Los Angeles Dodgers owner Frank McCourt, and Shark Tank‘s Kevin O’Leary are among the potential suitors.
Also in the mix are popular YouTuber MrBeast, whose real name is Jimmy Donaldson, software giant Microsoft, and Walmart.
A startup company operated by Tim Stokely, the founder of the adult content site OnlyFans, teamed up with the cryptocurrency foundation Hbar submitted a bid to buy TikTok, according to Reuters.
Zoop, the startup by Stokely and RJ Phillips that launched in 2022, and Hbar sent the proposal to the White House last week.
“Our bid for TikTok isn’t just about changing ownership, it’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate,” Phillips, Zoop’s co-founder, told the outlet.
Zoop allows users to buy, sell, trade, and barter for what the platform calls “Digital Celebrity Collectibles.”
The platform is a way for fans to connect with their favorite celebrities and join exclusive communities in the metaverse.
TRUMP’S TIKTOK PLEDGE
Trump has pledged to save TikTok despite calling the app “worthless” without a permit from the United States.
“I met with owners of TikTok, the big owners, it’s worthless if it doesn’t get a permit,” Trump told reporters at the White House on January 21.
“It’s not like you can take the US. The whole thing is worthless. With a permit it’s worth like a trillion dollars.
“So, what I’m thinking saying to somebody is buy it and give half to the United States of America and we’ll give you the a permit and they’ll have a great partner, the United States.”
Trump is expected to discuss TikTok’s fate at an Oval Office meeting on Wednesday.
In March, Trump said that officials in his administration had been in contact with four different groups about a possible sale of the app.
“We’re dealing with four different groups, and a lot of people want it… all four are good,” he told reporters onboard Air Force One.
Business analysts estimate a TikTok sale could be worth as much as $50 billion, according to Reuters.
The platform is home to about 115 million monthly mobile users in the United States.
Who is in the bid to purchase TikTok?
Several potential suitors have lined up in an attempt to buy TikTok, as the short-form video app faces a April 5 sale deadline.
Companies interested in TikTok:
- Amazon
- Microsoft
- Walmart
- Oracle
- Rumble
Entrepreneurs:
- X owner Elon Musk
- Shark Tank investor “Mr. Wonderful” Kevin O’Leary
- Tech businessman Jesse Tinsley
- Los Angeles Dodgers owner Frank McCourt
- Former Activision Blizzard CEO Bobby Kotick
- OnlyFans founder Tim Stokely