Photo Credit: Solen Feyissa
Will ByteDance accept a $25 billion offer for TikTok? American investors including the Founder of Employer.com, Roblox CEO David Baszucki, and Anchorage Digital’s Nathan McCauley are putting together a proposal. But ByteDance doesn’t seem interested at all.
Jesse Tinsley, Employer.com Founder says the group has secured ‘over $20 billion’ to make the buyout offer. The group includes David Baszucki, Nathan McCauley, who say their bid is much higher than the proposal put forward by Frank McCourt and Shark Tank investor Kevin O’Leary. Despite the offer, Tinsley confirms, “we have not heard back directly. It has been radio silence on their side.”
Tinsley says the investor group could help stabilize TikTok with an all U.S. backed team handling all of the “data and servers and technology.” Tinsley notes that YouTuber MrBeast is not exclusively signed on to this purchase deal. MrBeast’s spokesperson has confirmed that the personality is speaking with multiple parties about potentially purchasing the app.
Several potential buyers for TikTok’s American business have cropped up in the days since Trump signed a 75-day stay on the ban. But ByteDance has been reticent to engage with any offers as it views President Trump as the solution to its problems. But Trump has stated that he would like to see a ‘bidding war’ for TikTok’s U.S. operations before putting forth Microsoft and Oracle as potential buyers.
“I would like the United States to have a 50% ownership position in a joint venture,” Trump wrote about the platform on his personal social media platform. But Republican Senators have been less forgiving now that the ban is in place. “Now that the law has taken effect, there is no legal basis for any kind of ‘extension’ of its effective date,” said Senators Tom Cotton (R-AR) and Pete Ricketts (R-NE).
“For TikTok to come back online in the future, ByteDance must agree to a sale that satisfies the law’s qualified divestiture requirements by severing all ties between TikTok and Communist China.”
TikTok remains unavailable to download in the United States on both Apple’s App Store and Google Play. That’s because the language of the law would fine any tech company offering downloads of the app to the tune of $5,000 per violation. Both Apple and Google are playing it safe by keeping TikTok in a state of limbo. Those who have the app can continue to use it, but no new downloads have happened since January 19.
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