Among the potential bidders is AI search engine company Perplexity, which has expressed interest in merging with TikTok. The platform's influence is significant, with 79% of millennials and Gen Z consumers seeking financial advice from social media and Gen Z shoppers being 117% more likely to purchase from influencers. TikTok is recognized as a major force in both cultural and economic spheres, beyond just a platform for entertainment.
Key takeaways:
- President Donald Trump announced that TikTok will have a new owner by the end of the week, with ByteDance having until April 5 to find a buyer.
- ByteDance's deadline to sell TikTok was initially January 19, but it was extended by Trump, who may grant further extensions.
- A consortium led by Susquehanna International Group and General Atlantic is a frontrunner to buy TikTok, with Blackstone considering a minority investment.
- AI search engine company Perplexity is also a potential bidder, highlighting its ability to rebuild TikTok's algorithm without creating a monopoly.