Amazon has submitted a last-minute bid to buy out TikTok as the popular video sharing app faces a U.S.-wide ban later this week unless its Chinese owners sell off their stake — reports The New York Times.
The information comes from three people familiar with Amazon’s bid, who said the e-commerce giant sent an offer letter addressed to U.S. Vice President JD Vance and Commerce Secretary Howard Lutnick. However, the sources said Amazon’s bid isn’t being taken seriously by parties involved in the TikTok divestiture talks.
TikTok’s future in the U.S. has come under threat since the government passed the Protecting Americans from Foreign Adversary Controlled Applications Act last year, targeting the video app and other “foreign adversary controlled applications” over national security concerns. The law promises action against Chinese-owned apps and companies that distribute or otherwise work with them.
One possible path to ensuring TikTok’s continued availability in the U.S. is for its parent company, ByteDance, to relinquish control of its U.S. operations. U.S. policymakers passed a law requiring ByteDance to sell off TikTok or see the app banned in the country, but President Donald Trump prevented that law from going into effect with an executive order shortly after his inauguration. That executive order expires on Saturday.
President Trump has repeatedly promised to “save” TikTok, which boasts over 170 million users in the U.S. He is expected to meet with top White House officials on Wednesday to discuss TikTok’s future in the country. People familiar with the discussions have hinted at a potential deal that could see TikTok take on a collection of U.S. investors, including tech giant Oracle and private equity firm Blackstone, to avoid the ban.
Amazon is far from the first company to be interested in a potential TikTok acquisition, though it may be one of the biggest names. The video platform has reportedly also garnered interest from Microsoft, billionaire Frank McCourt, and Employer.com founder Jesse Tinsley. TikTok owner ByteDance, meanwhile, explicitly refused to sell off the app last year.
Want to see more of our stories on Google?
P.S. Want to keep this site truly independent? Support us by buying us a beer, treating us to a coffee, or shopping through Amazon here. Links in this post are affiliate links, so we earn a tiny commission at no charge to you. Thanks for supporting independent Canadian media!
