As the April 5 deadline approaches for TikTok to secure a non-Chinese buyer, major tech players and investors are entering the race. Amazon and a consortium led by Tim Stokely, the founder of OnlyFans, have signaled interest in acquiring the popular short-video platform’s U.S. operations.
Stokely’s startup, Zoop, in collaboration with a cryptocurrency foundation, has submitted a late-stage bid. Meanwhile, Amazon formally communicated its interest to U.S. officials. Following the news, Amazon’s stock rose by 2%, reflecting market optimism.
The e-commerce giant has long sought to expand its footprint in social media, having previously acquired Twitch and Goodreads.
Other interested parties reportedly include private equity firm Blackstone and venture capital firm Andreessen Horowitz, who are exploring funding options for a potential acquisition.
In response to national security concerns over TikTok’s Chinese ownership, the White House is also considering a spin-off of a U.S.-based entity with Chinese ownership capped at 20%, in accordance with regulatory requirements.
About The Author
