Amazon.com Inc. has reportedly offered to buy the social video app TikTok from its Chinese owners, submitting a bid to the White House, according to an insider. The company outlined its proposal in a letter sent to Vice President JD Vance, who is leading efforts to broker a sale of TikTok’s US operations before a looming deadline this week, and Commerce Secretary Howard Lutnick, sources confirmed.
Stephanie Lai, Kate Sullivan, and Spencer Soper for Bloomberg News:
But the bid… is not being considered seriously by the administration, according to the person, who discussed the sale process on the condition of anonymity.
Even if Amazon’s bid fails to gain traction inside the White House, the company’s interest could compel other suitors to pay more, which squeezes more money out of a potential rival. Being involved in negotiations could also give Amazon visibility into TikTok’s financial performance, including its TikTok Shop, a rising competitor to Amazon’s online retail business.
President Donald Trump is expected to meet with Vance and other top administration officials Wednesday afternoon to consider proposals for divesting TikTok’s US operations from its Chinese parent ByteDance Ltd. The administration is weighing other plans, including one that would include Oracle Corp. and Blackstone Inc. and potentially other investors in a joint venture, Bloomberg reported earlier.
Trump faces an April 5 deadline for ByteDance to find a buyer for TikTok’s US operations or see the app banned in the country, though he has said he would be willing to extend the deadline as necessary.
MacDailyNews Note: TikTok is on Apple’s App Store here.
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