Amazon has reportedly bid to acquire TikTok as the deadline for the app’s potential ban approaches. According to the New York Times, the e-commerce giant submitted its offer just days before the app is shut down on Saturday unless an American buyer steps in.
Despite Amazon’s unexpected move, insiders suggest that those involved in the acquisition process may not take the bid seriously. Tech company Oracle and private equity firm Blackstone are among the other contenders still in the running to secure ownership of the popular social media platform.
The looming threat of a ban has driven the race to purchase TikTok, as U.S. authorities have expressed concerns over data privacy and national security related to the app’s Chinese ownership. To continue operating in the U.S., TikTok must find an American buyer.
Amazon’s interest in TikTok adds an intriguing twist to the situation, although industry experts remain skeptical about the seriousness of the bid. As the deadline nears, whether Amazon, Oracle, Blackstone, or another company will successfully secure TikTok’s U.S. operations remains to be seen.