Amazon Submits Last-minute Bid to Acquire TikTok

According to a new report from the New York Times, Amazon has submitted a bid to acquire TikTok. This last-ditch bid comes against the backdrop of the April 5 deadline when the social media app has to shed its Chinese ownership or face a ban in the United States. However, the parties involved in the deal talks do not appear to be taking Amazon’s bid seriously, according to The Times’ report.

Latest Developments 

President Donald Trump is scheduled to meet with officials to discuss the app’s fate on Wednesday. Trump said earlier this week that a deal with TikTok’s parent company, ByteDance, to sell the app will be finalized before the April 5 deadline.

On Tuesday, the Financial Times reported that Andreessen Horowitz is in talks to invest in TikTok as part of an Oracle-led bid that includes other American investors interested in purchasing the app.

Last week, Reuters reported that private equity firm Blackstone is considering joining ByteDance’s current non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, in providing fresh capital to bid for TikTok’s U.S. operations.