A raft of offers have emerged to buy TikTok’s American operations as the deadline for its sale looms.
According to reports Amazon, Applovin and Tim Stokely, British founder of adult social media site OnlyFans, in partnership with an adtech firm, are all in the hunt. The sale of TikTok’s American ownership structure must change by Saturday.
A New York Times report said that Amazon submitted its bid via an offer letter addressed to Vice President JD Vance and Howard Lutnick. However, it cautioned that “various parties” who have been involved in the talks “do not appear to be taking Amazon’s bid seriously” according to sources.
Meanwhile, the Wall Street Journal and CNBC have reported that AppLovin is also seeking to acquire TikTok. According to sources, Trump’s White House is “fully aware” of AppLovin’s interest in the platform.
Zoop, a startup run by Tim Stokely, founder of adult content social media site OnlyFans, has partnered with the Hbar cryptocurrency foundation to submit a bid for TikTok. It also submitted its offer in a letter to Vance and Lutnick.
“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,” Zoop co-founder RJ Phillips told Reuters.
Trump is expected to meet with Vance, Lutnick, national security adviser Mike Waltz and Director of National Intelligence Tulsi Gabbard to consider a final proposal.
“It is highly unlikely that TikTok will go dark again. All signs point to a deal or another extension,” said Forrester’s principal analyst Kelsey Chickering.
“If TikTok divests in the US, the real question is whether its algorithm comes with the sale. TikTok without its algorithm is like Harry Potter without his wand – it’s simply not as powerful. TikTok operates on a content graph, not a social graph, which means it analyzes thousands of user signals to determine what content and creators the user will want to watch, making it hyper relevant and highly addictive. In fact, our data shows 31 oer cent of US online adults consider TikTok to be addictive, more than any other social media platform.
“Last April, we asked TikTok users about a TikTok sale, and 54 per cent said they’re concerned if TikTok is sold and run by a different company that it won’t be as good of an experience as it is now. If the TikTok experience degrades, users, creators, and advertisers will spend more time and money on other media channels,” added Chickering.
In January, Perplexity AI presented ByteDance—TikTok’s parent company—with a merger proposal that would combine Perplexity’s business with TikTok’s US operation.
Other potential bidders include a consortium organised by billionaire businessman Frank McCourt, with investors saying they have offered ByteDance $US20 billion ($32 billion) in cash.
Jesse Tinsley, the founder of payroll firm Employer.com, says he has organised a consortium that is offering ByteDance more than $US30 billion ($48 billion) for TikTok.
If a deal isn’t struck by Saturday, the original TikTok ban legislated by the US Congress and signed by former president Joe Biden will come back into effect.
Corporations providing access to the app—i.e. Google and Apple—after that date will face penalties in the US, and the app will be removed from storefronts.
Trump has suggested he will extend the deadline yet again, however, and can do so for up to 90 days under US law.
