Amazon places bid on TikTok as deadline looms
It’s said that Amazon may have submitted an offer for TikTok, the well-known video-sharing platform potentially facing a ban in the U.S., unless it manages to negotiate a deal detaching itself from its Chinese parent company.
Due to the U.S. law passed last year and enforced by President Joe Biden, ByteDance, TikTok’s parent company, must divest its U.S. business to tackle the national security issues raised by lawmakers regarding TikTok’s operations within the United States.
1) TikTok asserts that they’ve poured enormous amounts of money into safeguarding the data of their American users. The potential ban could cause significant damage to both the businesses relying on the app and the U.S. citizens using it, according to the company.
Amazon’s bid was first reported by the New York Times.
In simpler terms, neither Microsoft (from Seattle) nor TikTok nor the White House provided a response when asked for comments.
Updates
Frank McCourt, the creator of Project Liberty and the top executive at McCourt Global, recently disclosed that Project Liberty is preparing a proposal to purchase TikTok within the United States.
Initially, the agreement was supposed to be finalized by January 19th. However, President Trump pushed back the date to April 5th. There’s a chance he might prolong the deadline once more.
As a die-hard movie fan, I can’t help but draw parallels between the ongoing drama of TikTok and the complex relationship between the U.S. and China.
In simpler terms, Daniel Ives, an analyst at Wedbush Securities, stated that TikTok is considered one of the major and pioneering pieces in the game (poker metaphor) between U.S./China relations. These relationships have numerous intricate aspects that will require careful navigation over the coming years under the Trump administration.
As a movie enthusiast, I can’t help but appreciate the potential goldmine that TikTok presents to prospective buyers. Boasting an impressive 170 million active users within the United States alone, this platform serves as a hub for entertainment and shopping experiences. The rise of TikTok personalities has even opened doors for them to step into roles as brand ambassadors, gracing our screens in TV shows and movies.
According to Ives, any prospective TikTok deal might involve Oracle, the company based in Austin that provides TikTok’s cloud services. In fact, during Trump’s first term in 2020, Oracle was part of a proposed deal for TikTok acquisition. Notably, Larry Ellison, one of Oracle’s co-founders and a billionaire, publicly backed Trump.
Ives indicated that he doubts the agreement will involve the sale of TikTok’s algorithm, since it would likely be unacceptable to the Chinese government.
Other potential buyers of TikTok include a group headed by Frank McCourt, previous owner of the Dodgers, with Kevin O’Leary from “Shark Tank” among them. In March, San Francisco-based AI company Perplexity expressed their intention to redevelop TikTok’s algorithm.
Reports from Bloomberg and The New York Times indicate that Amazon’s proposal in the ongoing discussions is not viewed as credible by the Trump administration and other key participants.
World & Nation
In response to Trump’s warnings about increased tariffs, Chinese manufacturers are taking extra steps to bypass them.
If Amazon were to take over TikTok, it would substantially amplify its dominance in online retail. Approximately half of U.S. TikTok users have made purchases through the social platform, according to Jasmine Enberg, Emarketer’s Vice President of Content, as mentioned in a statement.
Enberg stated that Amazon’s reported bid for TikTok showcases the platform’s impressive capabilities in e-commerce and the evolving shopping habits of consumers. If acquired, this move could significantly boost Amazon’s influence, particularly among younger shoppers who often begin and complete their purchases on platforms like TikTok or other social media sites.
Leading tech companies like Amazon and its chief executive, Jeff Bezos, are taking steps to engage with Donald Trump.
Amazon contributed $1 million financially to Donald Trump’s inauguration and also broadcasted the ceremony on Prime Video, a non-cash contribution valued at $1 million, as reported by the Associated Press.
This month, Prime Video began airing past episodes of Donald Trump’s reality series “The Apprentice.” Additionally, Amazon has made an agreement to debut a documentary about First Lady Melania Trump, which is set to screen in cinemas and on the streaming service later in the year.
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2025-04-02 23:01