Amazon submits last-minute bid for TikTok amid US Ban threat

Amazon has made a surprise, last-minute bid to acquire TikTok, as the video-sharing app faces a looming ban in the United States unless its Chinese owner, ByteDance, divests its stake, The New York Times reported on Wednesday, March 2.

According to the report, Amazon submitted its offer in a letter to officials involved in the ongoing negotiations over TikTok’s sale, a process driven by US national security concerns. However, sources close to the talks suggest that Amazon’s bid is not being taken seriously by key parties.

The most likely resolution, reports indicate, would involve existing US investors in ByteDance rolling their stakes into a newly formed, independent global TikTok company.

Additionally, major US investors such as Oracle and Blackstone are expected to participate in the deal to reduce Chinese ownership. Oracle, which already hosts much of TikTok’s US operations on its servers, is seen as a frontrunner, particularly given that its chairman, Larry Ellison, is a close ally of former President Donald Trump.

Despite concerns over a potential US ban, Trump has expressed confidence that a buyer will emerge before the Saturday deadline. He is set to meet with senior White House officials on Wednesday to discuss possible solutions.

With over 170 million American users, TikTok remains under intense scrutiny from US lawmakers. A law passed last year requires ByteDance to either sell the app or face a ban, citing national security risks associated with its Chinese ownership.

While Amazon’s bid has shaken up the negotiations, industry experts remain skeptical about its chances of success.