TikTok is facing concerns from US policymakers regarding its Chinese ownership.
A law passed last year required TikTok to separate from its parent company, ByteDance, due to national security concerns.
Amazon has reportedly made a last-minute bid to acquire TikTok.
Amazon has reportedly made a last-minute bid to acquire TikTok as the popular short-form video platform faces a deadline to change its ownership structure or face a ban in the US. For those unaware, TikTok is facing concerns from US policymakers regarding its Chinese ownership. A law passed last year required TikTok to separate from its parent company, ByteDance, due to national security concerns. Although the law was set to take effect in January, former President Donald Trump delayed enforcement until this Saturday.
Despite Amazon’s interest, many parties involved in the talks are not taking the bid seriously, reports The New York Times, citing sources. The company’s offer was reportedly sent to Vice President JD Vance and Commerce Secretary Howard Lutnick.
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Amazon has some connection to TikTok. TikTok has emerged as a key platform for retail shopping, where influencers showcase and recommend products to their audiences. While TikTok operates its own e-commerce platform, TikTok Shop, many influencers still direct users to buy items on Amazon, earning a commission from each sale.
Amazon previously attempted to launch a TikTok-style feature within its own app, called Inspire, but it failed to gain traction and was discontinued earlier this year.
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Amazon is not the only company interested in TikTok. In 2020, Microsoft and Walmart attempted to acquire the platform when the short-form video platform faced similar pressure from the US government. However, Amazon would be the most high-profile bidder for the company, with billionaire Frank McCourt and Employer.com founder Jesse Tinsley also showing interest.
Well, only time will tell the fate of TikTok. So, stay tuned for updates.
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Ayushi Jain
Tech news writer by day, BGMI player by night. Combining my passion for tech and gaming to bring you the latest in both worlds. View Full Profile
