Amazon and OnlyFans founder make surprise entry in race for TikTok’s US business

Amazon and OnlyFans founder make surprise entry in race for TikTok’s US business

Their entry adds new momentum to an already competitive process involving several major private equity and venture capital firms. Blackstone is in discussions to join ByteDance’s existing non-Chinese investors, including Susquehanna International Group and General Atlantic, to help fund a potential bid. Meanwhile, Andreessen Horowitz is in talks to provide external funding for a rival offer led by Oracle and a consortium of American investors, aiming to buy out TikTok’s Chinese stakeholders.
The US government is facilitating efforts to spin off a separate US TikTok entity, reducing Chinese ownership to below the 20% threshold mandated by recently enacted legislation. The White House is actively reviewing bid options as the deadline looms.
Source: Reuters
If you think we missed any important news, please do not hesitate to contact us at [email protected].