Despite interest from various buyers, ByteDance has consistently stated it does not intend to sell TikTok. Perplexity's approach of proposing a merger rather than a sale is an attempt to address ByteDance's reservations. TikTok has expressed concerns about the lack of explicit assurances from the Biden administration regarding non-enforcement of the ban, stating it may be "forced to go dark" without them. Reports of the Chinese government being open to an acquisition by Elon Musk have been dismissed by ByteDance as "pure fiction." TechCrunch has reached out to both TikTok and Perplexity AI for comments on the situation.
Key takeaways:
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- Perplexity AI has submitted a bid to merge with TikTok US, aiming to create a new entity with TikTok US and new equity partners.
- A law requiring ByteDance to sell TikTok or face a ban in the US is set to take effect on January 19, the last day of President Joe Biden's term.
- President-elect Donald Trump may give TikTok a 90-day extension, but TikTok warns it might have to shut down without explicit assurances from the Biden administration.
- ByteDance has repeatedly stated it does not intend to sell TikTok, and Perplexity AI hopes to address this by proposing a merger instead of a sale.