One more extension, this time of 75 days, Donald Trump launched for the sale of Tiktok by Bytedoncewhich must reach an agreement to sell the operation of the Chinese app to an American buyer in order to avoid a prohibition of operation in the United States, where there are 170 million users. The previous term was expired today.
This occurs in the midst of the United States tariff war. For this reason, Associated Press reported that the agreement to sell Tiktok to US investors could be at risk of collapsing after this.
So far, both parties have conversations.
About this, Trump said his “my administration has worked hard to reach an agreement to save Tiktok and we have made considerable progress. The agreement requires more work to ensure that all necessary approvals are signed, so I sign an executive order to keep Tiktok in operation for additional 75 days. We hope to continue working in good faith with China, which, as I understand, is not very satisfied with our reciprocal tariffs necessary for fair trade and balanced between China and the US!), ”said President Donald Trump in his social truth account.
“This shows that tariffs are the most powerful and very important economic tool for our national security. We don’t want Tiktok to disappear. We hope to work with Tiktok and China to close the agreement. Thanks for your attention to this matter! ”Added the president.
While this time passes, The current bidders seeking to get Tiktok must continue to bid.
This is how the bid
A startup directed by Tim Stokely, founder of the Somyfans Adult Content Network, associated with A Cryptocurrency Foundation to present a last minute plan to acquire the application of Shortak short videos by Bytedance.
In this case, the offer was sent to the White House by Zoop, the new company of the multimillionaire Stokely, and the Hbar Foundation, which manages the treasury of the Cryptocurrency Network. While Onlyfans is known above all for pornography, Zoop is a family business that returns most of their income to those who publish on the site, rewarding them for increasing user participation. “Our offer for Tiktok does not consist only of changing the property, but about creating a new paradigm in which both creators and their communities benefit directly from the value they generate”, He told RJ Phillips, zoop co -founder.
on Wednesday The Amazon giant also presented a last minute offer to buy Tiktok, the New York Times reported. Amazon sent a letter to Vice President JD Vance and the Secretary of the Department of Commerce, Howard Lutnick.
The American Risk Capital firm Andreessen Horowitz It is also in conversations to obtain external financing and buy participation in Tiktok.
To this is added the Youtuber Mrbeast, Applovin and the group of investors led by David Baszucki, co -founder and executive director of Roblox, who lifted an initial capital of US $ 20,000 million for purchase. However, according to Wedbush’s international analyst, Dan Iives, the Chinese app is worth US $ 100,000 million including the algorithm.
What is the sales plan?
The plan consists of creating an American entity for Tiktok and diluting Chinese participation in the new business below the 20% threshold Required by the legislation, said Reuters. Thus, according to the possible agreement, new external investors would have 50% of the American business of Tiktok. The current American investors of Bytedance would also have about 30% of the business, which would reduce the participation of Bytedance by just under 20%, which would allow him to comply with the requirements of the US Law of Securities.
