Focus on the BIG picture.
Friday, Apr 04, 2025
Outside the box.
Amazon Makes Last-Minute Bid for TikTok Acquisition
The e-commerce behemoth has presented an official proposal to the White House as the deadline set by Trump for the sale of a popular social media application draws near.
Just three days ahead of President Trump's deadline for the divestiture of TikTok to US companies, Amazon has made a last-minute offer to purchase the social media platform.
This move follows Trump's executive order mandating that ByteDance, TikTok's Chinese parent firm, sell its US operations or risk a ban in the country.
In response to the news, Amazon's stock increased by 2%.
The offer was reportedly conveyed in a comprehensive letter to Vice President Mike Pence and Commerce Secretary Wilbur Ross.
However, it remains uncertain whether the proposal is being taken seriously by those engaged in the discussions.
TikTok boasts over 170 million users in the US, and American lawmakers have classified it as a national security concern due to its connections with the Chinese government.
Efforts led by the White House seek to limit Chinese ownership of the company to under 20%.
In addition to Amazon, other contenders like Oracle and investors such as Andreessen Horowitz and Blackstone have also made offers to either acquire portions of TikTok or oversee its user data in the US. A sale of TikTok is projected to yield at least $40 billion for its owners.
This move follows Trump's executive order mandating that ByteDance, TikTok's Chinese parent firm, sell its US operations or risk a ban in the country.
In response to the news, Amazon's stock increased by 2%.
The offer was reportedly conveyed in a comprehensive letter to Vice President Mike Pence and Commerce Secretary Wilbur Ross.
However, it remains uncertain whether the proposal is being taken seriously by those engaged in the discussions.
TikTok boasts over 170 million users in the US, and American lawmakers have classified it as a national security concern due to its connections with the Chinese government.
Efforts led by the White House seek to limit Chinese ownership of the company to under 20%.
In addition to Amazon, other contenders like Oracle and investors such as Andreessen Horowitz and Blackstone have also made offers to either acquire portions of TikTok or oversee its user data in the US. A sale of TikTok is projected to yield at least $40 billion for its owners.
