Startup Perplexity AI made its second bid to buy TikTok, this time with a proposal to have the U.S. government own 50% of the platform. Lawmakers have long opposed TikTok’s algorithm since its parent company,
Perplexity AI submitted a revised merger proposal to TikTok’s Chinese parent ByteDance as the popular video-sharing app stares down a national ban, according to multiple reports. Under the new proposal, the US government would own up to half of the company after a future initial public offering, a source familiar with the matter told CNBC.
A new TikTok proposal is on the table. Perplexity AI has proposed a merger that would give the U.S. government a 50% ownership stake.
Perplexity AI has presented the new proposal to Byte Dance, TikTok’s parent company, as the organization searches for a U.S. buyer.
If the new proposal is accepted, the U.S. government would not have voting power or a seat on the company's board.
The revised plan reportedly includes provisions for the US government to receive stock in the new company once Perplexity AI achieves an initial public offering valued
Search engine startup Perplexity AI submitted a bid on Saturday to TikTok's Chinese parent ByteDance for Perplexity to reportedly merge with TikTok.
Perplexity, an artificial intelligence search engine startup, has bid to merge with TikTok U.S. so the platform can avoid being banned in the country.
President Donald Trump said Monday evening that Microsoft is among the U.S. companies looking to take control of TikTok to help the popular app avert an effective ban that could kick-in in April. “I would say yes,
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Timing really is everything. A week on from TikTok’s short-lived ban over fears of Chinese harvesting U.S. data, despite consistent denials from the platform and its parent that it’s doing anything of the sort, here comes another app that admits to doing exactly that. And if you still think TikTok is bad — this is so much worse.