Perplexity revises bids for TikTok

Perplexity revises bids for TikTok
SAN FRANCISCO, CALIFORNIA - OCTOBER 30: Aravind Srinivas, Co-Founder & CEO of Perplexity, speaks onstage during TechCrunch Disrupt 2024 Day 3 at Moscone Center on October 30, 2024 in San Francisco, California. (Photo by Kimberly White/Getty Images for TechCrunch)

Washington: Leading AI-company Perplexity is reported as having revised its proposal to acquire Chinese short-form video platform TikTok.

The revised deal offers the American government half of the ownership of the new entity, according to a TechCrunch article.

A legal issue resulted in TikTok services witnessing a down-time.

US President Donald Trump has said that he may sign an executive order extending the deadline. This after TikTok CEO Shou Chew attending the swearing-in ceremony of the US president and sponsoring a celebration party.

TikTok was apparently among the three issues that the new president discussed with Chinese President Xi Jinping recently.

Trump’s executive order directed his Attorney General to not levy fines against app stores and service providers that continue helping TikTok stay up.

According to reports, under the new bid, the government would receive its stake after an initial public offering of at least $300 million, while TikTok’s current Chinese owner ByteDance could also retain ownership.