United States: As the final hours tick down toward the impending weekend deadline for TikTok to secure a new proprietor, the roster of contenders vying for ownership of the short-form video juggernaut continues to expand.
E-commerce titan Amazon (AMZN.O) and, independently, a coalition spearheaded by OnlyFans’ originator, Tim Stokely, have emerged as the latest aspirants seeking to claim stewardship over TikTok. The platform faces a strict ultimatum—finalize an acquisition by a non-Chinese entity before April 5 or risk being exiled from the US market, according to Reuters.
American policymakers have voiced apprehensions regarding the application’s affiliations with China, allegations that both TikTok and its parent company, ByteDance, have staunchly refuted. High-level officials from the Trump administration are set to convene this Wednesday to deliberate on TikTok’s fate and the potential courses of action.
Stokely, now at the helm of the emerging startup Zoop, has aligned forces with a cryptocurrency foundation to present a belated bid for TikTok. Both entities confirmed this strategic maneuver in a disclosure to Reuters on Wednesday.
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Meanwhile, a US government official validated that Amazon had formally communicated with Vice President JD Vance and Commerce Secretary Howard Lutnick regarding its interest. Amazon has remained tight-lipped, opting not to comment on the development, while TikTok and ByteDance have yet to issue any responses to media inquiries, as per Reuters.
Following the revelation of Amazon’s eleventh-hour bid, the tech giant’s stock experienced a modest 2 percent uptick, signaling investor optimism.
Amazon has long harbored aspirations to cultivate a proprietary social media ecosystem, a venture that could amplify its retail dominance while capturing the engagement of younger demographics. The company previously acquired Twitch, a leading live-streaming service, in 2014 for close to $1 billion, as well as the book-centric social platform Goodreads in 2013, underscoring its commitment to establishing a foothold in the digital networking landscape.
Additionally, Amazon experimented with Inspire, a short-form video and photo feed reminiscent of TikTok. However, this initiative was discontinued earlier this year.
Last month, former President Donald Trump revealed that his administration was engaged in discussions with four separate entities regarding TikTok’s acquisition, though he refrained from identifying the prospective buyers.
Private equity behemoth Blackstone (BX.N) has reportedly explored the possibility of joining forces with ByteDance’s non-Chinese stakeholders—led by Susquehanna International Group and General Atlantic—to infuse fresh capital into a potential buyout of TikTok’s US operations, according to Reuters.
Similarly, American venture capital powerhouse Andreessen Horowitz has engaged in negotiations to contribute external funding toward an acquisition bid, reportedly led by Oracle (ORCL.N) and a consortium of US-based investors, in an effort to sever TikTok from its Chinese ownership structure, as per a report by the Financial Times on Tuesday.
White House-mediated discussions have revolved around a strategy to carve out a U.S.-based entity for TikTok, ensuring that Chinese ownership is diluted below the 20% threshold mandated by US law, Reuters reported last month.
The New York Times was the first to disclose Amazon’s involvement on Wednesday. However, sources privy to the negotiations have suggested that Amazon’s overture is not being taken seriously by key stakeholders engaged in the discussions.
The fate of TikTok—an application that has woven itself into the digital fabric of nearly half the American populace—remains precariously poised. The uncertainty stems from a 2024 legislative mandate, passed with overwhelming bipartisan backing, that compels ByteDance to relinquish control of TikTok by January 19 or face outright prohibition within the United States.