Sunday, 09 May, 2021


TikTok Allegedly Made a $ 20 Billion Offer

Iza Och Elle Iza Och Elle are top Tik Tok influencers
Conrad Doyle | 31 August, 2020, 02:55

Centricus Asset Management Ltd. and Triller Inc. are seeking to buy TikTok's operations in the US and several other countries from ByteDance Ltd. for $20 billion, according to a person familiar with the matter.

The Triller/Centricus provide would certainly view Centricus pay out TikTok moms and dad business ByteDance $10 billion in cash money upfront, and also yet another $10 billion in mutual income for possession over TikTok's possessions in the United States, Australia, New Zealand, and also India.

The TikTok spokesman said Centricus and Triller had not contacted the company about an offer.

Executives at General Atlantic and Sequoia Capital, two major backers of ByteDance, tried unsuccessfully to dissuade Chief Executive Officer Zhang Yiming from moving forward with the lawsuit, people familiar with the matter said, in part because they were concerned that challenging President Donald Trump could backfire.

As TikTok acquisition turns messy, retail giant Walmart has already confirmed that it is teaming up with Microsoft in a bid for China-based short-video making platform that has 700 million users globally and 100 million in the US.

"We submitted an offer directly to the chairman of ByteDance through Centricus, and have confirmation it was received and is under consideration by him", Sarnevesht told Reuters.

As of the time of this writing, Microsoft, Twitter, Oracle, and Walmart have all reportedly expressed interest in buying TikTok's US assets. However, ByteDance is looking for around $30 billion deal for selling the U.S businesses which its bidders are not willing to offer that amount, the Wall Street Journal had reported. A spokesperson for Triller didn't immediately respond to requests for comment.

"We understand our offer is upsetting to some TikTok U.S. executives, as it upsets a deal that may be more favorable to them and less favorable to the shareholders", Sarnevesht said in his statement.

Triller, perhaps smelling blood in the water, joins the ever-growing list of USA companies trying to get a piece of TikTok's huge social media market share. "They do everything they can to discredit our proposal and because they don't want it to be seen as real", Sarnevesht said.

While TikTok is best known for its anodyne videos of people dancing and having going viral among teenagers, USA officials have expressed concern that user information could be passed to China's communist government. Both suitors are waiting for ByteDance to enter final-stage negotiations with one of them, and then to seek White House approval for a deal.

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